Category: Indicator > Volume Based
The Accumulation Distribution indicator uses the relationship between the open and the close of the bar, and the range of the bar, to weight and characterize the volume as Accumulation (buying) or Distribution (selling). The use of both price and volume provides a different perspective from price or volume alone. The calculation of Accumulation Distribution on each bar is added to the running total from the previous bars on the chart. Because Accumulation Distribution begins accumulating values from the left of the chart, the numeric value of Accumulation Distribution will depend on the data available in the chart.
The relative value, or trend direction, of Accumulation Distribution is more important than its numeric value. A divergence between price and Accumulation Distribution may indicate a trend reversal.
MyVol - Volume used to calculate the Accumulation Distribution
IF HIGH > HIGHEST(HIGH,20) AND PLOT1 < HIGHEST(PLOT1,20) THEN
ALERT("A BEARISH DIVERGENCE HAS BEEN DETECTED")
IF LOW < LOWEST(LOW,20) AND PLOT1 > LOWEST(PLOT1,20) THEN
ALERT("A BULLISH DIVERGENCE HAS BEEN DETECTED");