This is the simplified and optimized version of my original ADV indicator. It shows both regular volume bars and the accumulated/distributed (A/D) portion of them. The equation is elegant and intuitive. It calculates candle body to candle height ratio and multiplies it by volume: volume*(close-open)/(high-low). This is the building block of my three other indicators, ADL, ADP and ADMF.
- The volume bars has two shades of green and red. The dark shade shows amount of A/D and the light shade shows total volume (what you see on a regular volume indicator).
When money volume is enabled, volume is multiplied by price. As you can see in the chart below, trade volume 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 volume. 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 money flow and volume divergences. You can turn off volume 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 volume disabled), the gray line becomes identical to On Balance Volume (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.
- fixed MA's displaying below the columns - 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.
Release Notes
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- hides volume in cumulative mode - some other minor improvements
Release Notes
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minor update
Release Notes
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- just changed the graphics to daily TF
Release Notes
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here is a video tutorial showing how u can add this indicator to the main chart area
@Cryptocontinuum, it shouldn't happen very often. when price open and close are the same, it shows gray. that means neutral.
ernestvandyke93
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I have a question on the admf. IF THE AD weight is set to zero is still factoring price and volume and can we assume when the ma crosses above the zero line the market is bullish and we have bullish volume and when it crosses below the zero line the market is bearish and we have bearish volume.
JBennyy
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Question, if in these candles there is a large minority of the darker shade, that means that there either was very little accumulation or distribution relative to the overall volume. Would that not mean that of the entire volume, say 1/8th was accumulation, meaning the rest is distribution? How would a candle with so little accumulation still be green/so little distribution still be red? Thank you!
UnknownUnicorn16251912
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can you make auto divergence plots for us?
Smallboys
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This is very helpful
Cryptocontinuum
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Ah, I see, a doji. Thanks for your expedient response - and for this indicator.
Cryptocontinuum
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Thank you for taking the time to create this indicator and sharing it with us.
tiamo3733
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Thank you for sharing.
Crypto_Popat
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hi indicator seem cool, but when i put in i can't see any value or lines in my chart, where is the problem?
can anyone help