OPEN-SOURCE SCRIPT
Mr.J -- Accumulation Distribution Oscillator
Edit: More examples in comments, TV doesn't like to publish with split charts ;)
As a popular volume indicator, Accumulation Distribution Oscillator makes it easy and simple to interpret amplitude changes in the accumulation distribution. Either an observed peak in positive or negative amplitude can be used to snipe high/low points or a crossover from a positive number to a negative amplitude can indicate the change of Accumulation to Distribution.
Hidden divergences can also be found by looking for differences in the price/volume amplitude, similar to OBV divergence rules.
As a popular volume indicator, Accumulation Distribution Oscillator makes it easy and simple to interpret amplitude changes in the accumulation distribution. Either an observed peak in positive or negative amplitude can be used to snipe high/low points or a crossover from a positive number to a negative amplitude can indicate the change of Accumulation to Distribution.
Hidden divergences can also be found by looking for differences in the price/volume amplitude, similar to OBV divergence rules.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.