The Accumulation/Distribution Line improves on the On Balance Volume indicator by focusing on the range of a bar vs its closing price, instead of using its previous close. Volume is added to the total when the close is above the midpoint for the bar and subtracted when below. No user input is required for this indicator. This indicator’s definition is further expressed in the condensed code given in the calculation below.
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See also OnBalance Volume Indicator
How To Trade Using the Accumulation/Distribution Line
No trading signals are calculated for this indicator
How To Access in MotiveWave
Go to the top menu, choose Study>Marc Chaikin (or Volume Based)>Accumulation/Distribution Line
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
Important Disclaimer: The information provided on this page is strictly for informational purposes and is not to be construed as advice or solicitation to buy or sell any security. Please see our Risk Disclosure and Performance Disclaimer Statement.
//index = current bar number
// Calculate the OBV prev = ifNull(0, ADL[index-1]); adl = prev + getVolume(index)*mfm(index);