Developed by Marc Chaikin, the Accumulation Distribution Line is a volume-based indicator designed to measure the cumulative flow of money into and out of a security. Chaikin originally referred to the indicator as the Cumulative Money Flow Line. As with cumulative indicators, the Accumulation Distribution Line is a running total of each period's Money Flow Volume. First, a multiplier is calculated based on the relationship of the close to the high-low range. Second, the Money Flow Multiplier is multiplied by the period's volume to come up with a Money Flow Volume. A running total of the Money Flow Volume forms the Accumulation Distribution Line. Chartists can use this indicator to affirm a security's underlying trend or anticipate reversals when the indicator diverges from the security price.
Chaikin A/D Line measures the Advance/Decline of the market. This script takes that data to calculate a user-defined Moving Average and uses the direction of the MA to signal buys and sells.
The type of the Moving Average.
Valid types: Sma, Ema, Dema, Tema, Trima, T3, Mama, Kama, Wma
Length of the Moving Average.