Noncandlestick Confirmation Indicators and Terms
accumulation/distribution (AD) a momentum oscillator based on price trends, developed by Marc Chaikin, a trader who recognized the importance of whether current price movement of a stock is controlled by buyers (accumulation phase) or by sellers (distribution phase).
The A/D indicator is based on a single day’s prices and it identifies whether buyers or sellers determined the price levels and movements. A series of A/D days expressed in a moving average and divided by volume for the averaged period (usually 21 days) is called the Chaikin Money Flow (CMF), a strong technical sign that often provides ...
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