OPEN-SOURCE SCRIPT
Updated Accumulation/Distribution Money Flow [Cyrus c|:D]
This indicator should be more accurate than other indicators in its class (including MFI, CMF, ADL, and OBV) for measuring buy/sell pressure, identifying trend change through divergence and calculating Accumulation/Distribution (A/D) level (I will explain why in a separate TA).
This indicator is based on my previous indicator "Accumulation/Distribution Volume". It does not include the volume bars. The volume effect is adjustable as well.
Application:
- Buy/sell pressure: above 0 shows buy pressure, below 0 shows sell pressure.
- Divergence: as shown in the chart above, this indicator diverged from BTC price during swing lows and highs in the shown period.
- Accumulation/distribution: set Aggregation=Sum, Volume Exponent=10 and uncheck Price Factor.
Recommendations:
- Never use SMA
- Use larger length EMA for confirmation of divergence or buy/sell pressure (EMA 27 is equal to RMA 14 which is used in RSI).
. A/D mode is not recommended for hidden divergence.
My Setup:
- I use one instances of this indicator with default settings for buy/sell pressure
- A second instance for A/D level overlaid on the main chart
- One instance of "Accumulation/Distribution Volume" as a replacement for volume indicator
This indicator can also replicate Accumulation/Distribution Line (improved by True Range), On Balance Volume, and Price Volume Trend. Read more details on the description of the previous indicator:
I strongly recommend reading about similar indicators for potential uses e.g. tradingview.com/wiki/Money_Flow_(MFI) and tradingview.com/wiki/Price_Volume_Trend_(PVT)
I will publish a TA about correctly measuring divergence and using these indicators.
Please report any problems you find in the comments.
This indicator is based on my previous indicator "Accumulation/Distribution Volume". It does not include the volume bars. The volume effect is adjustable as well.
Application:
- Buy/sell pressure: above 0 shows buy pressure, below 0 shows sell pressure.
- Divergence: as shown in the chart above, this indicator diverged from BTC price during swing lows and highs in the shown period.
- Accumulation/distribution: set Aggregation=Sum, Volume Exponent=10 and uncheck Price Factor.
Recommendations:
- Never use SMA
- Use larger length EMA for confirmation of divergence or buy/sell pressure (EMA 27 is equal to RMA 14 which is used in RSI).
. A/D mode is not recommended for hidden divergence.
My Setup:
- I use one instances of this indicator with default settings for buy/sell pressure
- A second instance for A/D level overlaid on the main chart
- One instance of "Accumulation/Distribution Volume" as a replacement for volume indicator
This indicator can also replicate Accumulation/Distribution Line (improved by True Range), On Balance Volume, and Price Volume Trend. Read more details on the description of the previous indicator:
I strongly recommend reading about similar indicators for potential uses e.g. tradingview.com/wiki/Money_Flow_(MFI) and tradingview.com/wiki/Price_Volume_Trend_(PVT)
I will publish a TA about correctly measuring divergence and using these indicators.
Please report any problems you find in the comments.
Release Notes
Volume exponent is replaced by a binary enable/disable option. The reason was that for some instruments that have volume below 1 unit, it has a heightening effect which could lead to confusion. I personally am using the older version with adjustable volume exponent. Previous version is available at pastebin.com/JPWvDKCUPS: Here is a more clarification about my suggestion re not using SMA
![Accumulation/Distribution Money Flow [Cyrus c|:D]](https://s3.tradingview.com/x/xNwMiYef_mid.png)
Release Notes
- Simplified the indicator by removing replication of other indicators. Use ADV indicator if you want all the geeky features- Using Smoothed MA (same as the MA used in RSI)
For range-bound version of this indicator, check out my ADP indicator here which also includes this indicator:
![Accumulation/Distribution Percentage (ADP) [Cyrus c|:D]](https://s3.tradingview.com/h/hM0zajVr_mid.png)
Previous version is available in Pine script version system and here pastebin.com/raw/LFBkyfZb
Release Notes
- Code optimization- Minor change in the way price is factored
Release Notes
Release Notes
- minor change in input settings- minor change in the way price is factored in
Release Notes
here is a TL;DR list of my indicatorsUltimate Money Flow add a lot of features to ADMF. ADMF will not be updated anymore.
![Ultimate Money Flow (UMF), Stoch, Multi Time Frame (MTF) [cI8DH]](https://s3.tradingview.com/q/qwxRjZWn_mid.png)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.