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OPEN-SOURCE SCRIPT

Chaikin Volume Accumulator

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The Volume Accumulator is used in technical analysis to identify strengths and weaknesses in a market. It is derived from the On Balance Volume indicator, except that instead of giving all the volume to bears on red days and bulls on green days it gives a proportional amount to both depending on the relative close price. As with many trading indicators, classic divergence between the VA and the close price may indicate an incoming reversal.

As a general rule of thumb:



Price Up:
VA up = clear uptrend
VA sideways = moderate uptrend
VA down = weak uptrend

Price Sideways:
VA up = accumulation
VA sideways = no bias
VA down = distribution

Price Down
VA up = weak downtrend
VA sideways = moderate downtrend
VA down = strong downtrend

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.

TechnicusCapital
Also on:
Breadth IndicatorsChaikin Money Flow (CMF)On Balance Volume (OBV)

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.
Breadth IndicatorsChaikin Money Flow (CMF)On Balance Volume (OBV)

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.

TechnicusCapital
Also on:

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.