PROTECTED SOURCE SCRIPT
Volume strength with Accumulation Distribution
in Cycle of understanding psychology behind candle formation, i posted my script which is intended to determine the buying and selling pressure with candle wicks.
Idea behind wicks was although buyer and seller tried to make price high and low but it did not sustain indicating weakness in strength.
in this script i have tried to see the volume along with candle formation and structure. i tried to measure and derive volume information with body length of candle. Also plotted Williams Accumulation distribution to understand real trend ( Demand( Accumulation ) vs Supply ( Distribution ) )
Once can see difference in Usual volume indicator and information derived from this custom indicator with combination of WAD.
Idea behind wicks was although buyer and seller tried to make price high and low but it did not sustain indicating weakness in strength.
in this script i have tried to see the volume along with candle formation and structure. i tried to measure and derive volume information with body length of candle. Also plotted Williams Accumulation distribution to understand real trend ( Demand( Accumulation ) vs Supply ( Distribution ) )
Once can see difference in Usual volume indicator and information derived from this custom indicator with combination of WAD.
Protected script
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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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.