This indicator displays the volume for the Nasdaq Composite and S&P500 indexes just like any other stock. Also displays any normal stock volume as well. Customizations include choice of colors and moving average length.
This indicator seeks to mimic the conditions for Investors Business Daily's (IBD) Distribution Days that are tracked against the major indexes.
A distribution day is when the market index is down 0.2% or greater and the current day's volume is greater than yesterday's. By default, when a distribution day occurs a red arrow above the bar will appear.
The...
