Accumulation/Distribution Volume (ADV) [cI8DH]

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.

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minor change in the way price is factored

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- a minor change in input

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- 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.

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- hides volume in cumulative mode
- some other minor improvements

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minor update

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- just changed the graphics to daily TF

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here is a video tutorial showing how u can add this indicator to the main chart area

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