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Accumulation/Distribution Williams
Accumulation is a term used to describe a market controlled by buyers; whereas distribution is defined by a market controlled by sellers.
Williams recommends trading this indicator based on divergences:
Distribution of the security is indicated when the security is making a new high and the A/D indicator is failing to make a new high. Sell.
Accumulation of the security is indicated when the security is making a new low and the A/D indicator is failing to make a new low. Buy.
Calculation:
To calculate Williams' Accumulation/Distribution indicator, first determine the True Range High ("TRH") and True Range Low ("TRL").
TRH = Yesterday's close or today's high, whichever is greater
TRL = Yesterday's close or today's low, whichever is less.
Today's accumulation/distribution is then determined by comparing today's closing price to yesterday's closing price.
If today's close is greater than yesterday's close:
Today's A/D = today's close - TRL
If today's close is less than yesterday's close:
Today's A/D = today's close - TRH
If today's close is equal to yesterday's close:
Today's A/D = 0
The Williams' Accumulation/Distribution indicator is a cummulative total of these daily values.
Williams' A/D = Today's A/D + Yesterday's Williams' A/D
Barchart then applies a 14-day moving average of the results for smoothing.
Default Parameters: Period: 14
Alligator
"Most of the time the market remains stationary. Only for some 15-30% of time the market generates trends, and traders who are not located in the exchange itself derive most of their profits from the trends. My Grandfather used to repeat: "Even a blind chicken will find its corns, if it is always fed at the same time". We call the trade on the trend "a blind chicken market". It took us years, but we have produced an indicator, that lets us always keep our powder dry until we reach the blind chicken market". -- Bill Williams
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