UberTradingSystems

ADL - Accumulation Distribution Line [UTS]

an underlying asset.

It is determined by the changes in price and volume . The volume acts as a weighting coefficient at the change of price — the higher the coefficient (the volume ) is the greater the contribution of the price change (for this period of time) will be in the value of the indicator. The indicator is also known as Accumulation / Distribution Index.

Common known variants of this type of indicator are the On Balance Volume , Chaikin Oscillator or Chaikin Money Flow .

Based on https://www.metatrader5.com/en/terminal/help/indicators/volume_indicators/ad
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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