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RANA: A Market-Wide Ratio of Advancing to Declining Candles

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Summary

RANA, or Ratio Adjusted Net Advances, is described as a market breadth indicator that compares the number of bullish and bearish candlesticks across symbols in Market Watch that match a specified base currency. Its value is calculated as the difference between the bullish and bearish counts divided by their sum. Positive readings indicate more bullish candles than bearish ones, while negative readings indicate the reverse; a balanced count yields zero.

The indicator’s sole input is the base currency used to select symbols. The document provides the formula and counting definitions, but does not specify the candle timeframe, treatment of unchanged candles, or whether symbols are weighted equally beyond their contribution to the counts. It gives no examples, thresholds, or evidence that RANA predicts returns, so it is best understood as a compact breadth measure rather than a complete trading signal.

Key ideas

  • RANA compares counts of bullish and bearish candlesticks across selected Market Watch symbols.
  • Its formula normalizes the difference between the two counts by their combined total.
  • The base currency input determines which symbols are included in the calculation.
  • The document does not define timeframe handling or present predictive evidence.

Tags

Technical indicatorsStatisticsForex

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.