The Close Location Value (CLV) relates the day's close to its trading range.
Usage
CLV(HLC)
Arguments
HLC
Object able to be coerced to a matrix, which contains High-Low-Close prices.
Value
A vector containg the Close Location Values of a High-Low-Close price series.
Details
The CLV will fall in a range of -1 to +1. If the CLV is +/-1, the close is at the high/low;
if the CLV is 0, the close is directly between the high and low.
References
The following site(s) were used to code/document this indicator:
http://stockcharts.com/education/IndicatorAnalysis/indic_AccumDistLine.html