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 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 publication is governed by House rules. You can favorite it to use it on a chart.
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