Volumedraws in its own pane

Like OBV, but each bar's volume counts by where the close landed in its range — closing at the high banks it all as buying, mid-range cancels.

On this chart: Cumulative, weighted by close position in the bar's range.

The Accumulation/Distribution line refines OBV's all-or-nothing rule: each bar's volume is multiplied by where the close sat within the bar's range. Close at the high and the full volume counts as accumulation; at the low, as distribution; dead-center cancels out. A down day that closes well off its lows registers as partial buying — dip-buying that OBV records as pure selling.

Same grammar as OBV: trend and divergence, never level. Where the two disagree, the disagreement is informative — OBV falling while A/D holds up means down days keep closing near their highs, the fingerprint of buyers absorbing the selling intraday.

The intrabar sensitivity suits washout analysis: capitulation days that close far off the lows print as heavy accumulation here, and a string of them describes the demand that a nearby support level — and any strike beneath it — is resting on.

Like everything in this guide, these are descriptions of conditions and reference levels — context for your own decisions, not instructions to trade.