離散指標(A/D)

離散指標（Accumulation Distribution）是由價格和成交量的關係決定的，是預測價格走勢的一個主要指標。它可以衡量空頭和多頭市場的多寡，並可以檢測出價格和成交量之間關係的背離——表面趨勢正在減弱。離散指標是能量潮指標（On Balance Volume）的增強版。它首先將開盤價、收盤價與其所在期間的價格波動幅度對比，並將結果乘以交易量。

交易信號

離散指標最強的信號是背離：

• 出現看漲背離時做多；
• 看跌背離時做空。

做多時，止損應該放在近期的低點下方；做空時，止損應該放在近期高點上方。
 
示例：

微軟公司股價走勢以及    離散指標.   離散指標與價格走勢背離
 
1.  [L] 處做多， 看漲的背離準確的預測了之後的反彈。
2.  [S] 處做空，看跌的背離信號發生在1月和4月。

離散指標 (A/D) 計算公式

1. 收盤價與開盤價對比：

          收盤價 — 開盤價

2. 與當日的價格波動範圍做比較：

         (收盤價 — 開盤價 ) / (當日最高價 — 當日最低價 )

3. 計算結果乘以當日的交易量：

          (收盤價 — 開盤價 ) / (當日最高價 — 當日最低價 ) * 交易量

4. 離散指標是一天中所有數據的集合。

在沒有當日開盤價的情況下，一些軟體公司採用一個相對簡單的公式：

    {(收盤價 — 當日最低價) — (當日最高價 — 收盤價)} / (當日最高價 — 當日最低價) * 成交量

Accumulation Distribution
Accumulation Distribution tracks the relationship between price andvolume and acts as a leading indicator of price movements. It provides a measure of the commitment of bulls and bears to the market and is used to detect divergences between volume and price action - signs that a trend is weakening.
Accumulation Distribution is an enhancement of the On Balance Volume indicator. It first compares opening and closing prices to the trading range for the period, the result is then used to weight the volume traded.
Trading Signals
The strongest signals on the Accumulation Distribution are divergences:
• Go long when there is a bullish divergence.
• Go short when there is a bearish divergence.
Stop-losses should be placed below the most recent low (when going long) and above the latest high (when going short).
 
EXAMPLE
Microsoft is plotted with    Accumulation Distribution. Divergences are shown by    trendlines.
1. Go long [L]. The bullish divergence correctly predicted the subsequent rally.
2. Go short [S]. The bearish divergence signaled the correction in January.
3. Go short [S]. The bearish divergence signaled the correction in April.
Setup
Indicator Panel provides directions on how to set up an indicator. Edit Indicator Settings to change the default settings.
Accumulation Distribution Formula
The Accumulation Distribution Index is calculated as follows:
1. Closing Price is compared to Opening Price:

          Close - Open
2. And compared to the day's range:

          (Close - Open) / (High - Low)
3. The result is multiplied by Volume for the day:

          (Close - Open) / (High - Low) * Volume
4. The Accumulation Distribution Index is calculated as a cumulative total of each day's reading.
Some charting software use a simpler formula where the Open price is not available:

                    {(Close - Low) - (High - Close)} / (High - Low) * Volume

本文翻譯由兄弟財經提供

文章來源：http://www.incrediblecharts.com/indicators/accumulation_distribution.php