The Williams Accumulation/Distribution is a momentum indicator that associates changes in price with the daily range.

Divergences between the Williams Accumulation/Distribution and the security's price imply a change is imminent. When a divergence does occur, prices usually change to confirm the Williams Accumulation/Distribution. For example, if the indicator is moving up and the security's price is going down, prices will probably reverse and start going up.

If the days price change is positive then the difference in the daily high and low price is added to the total, and conversely if the daily change is negative then the daily range is subtracted from the total.

You can calculate the Moving Average of the resulting Williams Accumulation/Distribution line by entering in the number of periods within the Moving Average in the first parameter box.