Accumulation/Distribution is a index which adds or subtracts each day's volume in proportion to where the close is between the day's high and low.
First a close location value is formed,
clv=(close-low)-(higj-low)/high-low
This ranges from -1 when the close is the low of the day, to +1 when it's the high. For instance if the close is 3/4 the way up the range then CLV is +0.5. The accumulation/distribution index adds up volume multiplied by the CLV factor, ie.
acc.dis=acc.dis(previous)+volum*clv
The name accumulation/distribution comes from the idea that during accumulation buyers are more and the price will increase through the day, or will make a recovery if sold down, in either case more often finishing near the day's high than the low. The opposite applies during distribution.
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