Accumulation/Distribution
A momentum indicator which tries to gauge supply and demand by discovering if investors are generally "Accumulating” (buying) or "Distributing” (Selling) a certain stock by identifying divergences between stock price and volume flow. It is calculated using the following formula:
Acc/Dist = ((Close – Low) – (High – Close)) / (High – Low) * Period's volume
Investopedia Commentary
Related Links
Market Strength Tutorial
Momentum and the Relative Strength Index
The Basics of Money Flow
Market Breadth: A Directory of Internal Indicators
Five Investing Pitfalls To Avoid, According to Investor's Business Daily
See also: Advance/Decline Line, Chaikin Oscillator, Divergence