- The bars has two shades of green and red. The dark shade shows amount of A/D and the light shade shows total (what you see on a regular indicator).
When money is enabled, is multiplied by price. As you can see in the chart below, trade in terms of USD was growing over the past years.
- Blue line is the moving average of A/D and the orange line is for total . When "Baseline Chart" option is enabled, this moving average is identical to ADMF indicator which can be a powerful indicator for assessing buy/sell pressure as well as and divergences. You can turn off bars (from style menu) for better visibility or you can use the below indicators.
Please note that ADMF is now available as a part of ADP indicator as well and I recommend using the latter since ADP can also replace CMF and MFI indicators.
- If you change the aggregation to cumulative (while having money disabled), the gray line becomes identical to (OBV) and the blue line identical to my ADL indicator. The latter I would argue is more accurate than Chaikin's ADL, William's A/D and OBV.
- added height option for overlaying on the main chart
Note: When overlaid on the main chart, you may see a gap below the indicator. I could fix this issue by setting the bottom margin to 0 on the "settings>scale" menu before adding the indicator and then setting the indicator scale to screen. You can set the bottom margin to a desired value afterwards. Alternatively, you can scale the indicator to the left and adjust the left scale. Don't forget to set the height in the indicator settings.
- some other minor improvements
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
RSI = if RSI_enabe and range
rsi2 = 2*(rsi(src,len)-50) // I add the same code, except "if" condition.
plot(RSI, color=#9900ffff, title="RSI")
plot(rsi2, color=red, title="rsi2") // The same plot? No! WTF?