Accumulation/distribution line
A running total of volume, weighted by where each bar closed in its range.
Formula
A/D = A/Dₚᵣₑᵥ + Volume × ((Close − Low) − (High − Close)) ÷ (High − Low)
How to read it
Direction matters, not level: rising A/D under a flat price suggests accumulation.
How to use it
Look for divergence: a rising line under a flat or falling price suggests buying the price has not shown yet.
Also called: accumulation, distribution, adl.