Accumulation & Distribution Days Histogram

WHAT IT TRACKS:
• Distribution Days (Selling Pressure): Price closes down >0.2% on higher volume than previous day
• Accumulation Days (Buying Pressure): Price closes up >0.2% on higher volume than previous day

HOW IT WORKS:
The histogram displays a rolling count of distribution and accumulation days within your chosen lookback period (default: 20 bars). Green bars show accumulation days above the zero line, while red bars show distribution days below the zero line. A white line plots the net difference (accumulation minus distribution) to show the overall balance.

SETTINGS:
• Lookback Period: Number of bars to count (default: 20)
• Price Threshold: Minimum % move required (default: 0.2%)
• Colors: Fully customizable histogram colors

USAGE:
Use this to gauge the balance between buying and selling pressure. When accumulation exceeds distribution, it suggests bullish pressure. When distribution exceeds accumulation, it suggests bearish pressure.

The indicator can also serve as a market health filter:
• 0-3 Distribution Days: Bullish market condition - healthy for long positions
• 4-5 Distribution Days: Cautious - monitor for potential trend change
• 6+ Distribution Days: Bearish signal - institutional selling intensifying

Other potential uses to explore:
• Divergence analysis: Price making new highs while distribution days cluster
• Sector rotation: Compare distribution/accumulation across different sectors
• Entry timing: Wait for accumulation to exceed distribution before entering
• Risk management: Reduce position size as distribution days increase

Experiment with different lookback periods and thresholds to match your trading timeframe and style.

If you discover effective ways to use this indicator, please share in the comments below - your insights could help others, enjoy.