This is a script that visualizes "Distribution Day". The day when the closing price is negative compared to the previous day and the trading volume has increased is displayed as "D". Also, if the specified number of times "D" is displayed within the specified period, "▼" will be displayed at the top of the screen.
What is Distribution Day?
The day when stock prices fall and trading volume increases from the previous day. "Distribution Day" is a sign that institutional investors are selling out. According to O'Neill, if there are five "Distribution Day" within 20 days, it is likely to fall.