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Random article: Bretton Woods Agreement and Gold Standard

In summer 1944 WW II started to evolve into closing stage and allied countries began seriousely deliberating financial shape of postwar world. All leading economies except for the USA were worn out and on the decline. Up to the end of the war, the most part of golden reserves was accumulated in the USA whereas winning and lost countries both were badly in need of oil, row materials, food and equipment. To prevent further global conflict for resources, Bretton Woods agreement was concluded, which was named after the New Hampshire town where the agreement was reached. According to this agreement, International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established. Participants countries contributed money funds (the largest contribution was from the USA) and every country could lend from those funds to support its currency. For the currency leading by that moment – US dollar – so called Golden Standard was created and was equal to $35 for golden ounce.

Popular article: Accumulation Distribution Indicator

In measurement formula for Joe Granville indicator, close prices compared with the purpose of adding or deducting of volume, whereas Williams' indicator open and close prices are compared. Marc Chaikin compares close prices with the middle of range from minimum to maximum. The history of indicator is interesting on its own. In Larry Williams formula, Chaikin substituted open price for price of range. The reason of change was not that he considered it wrong, but that he was not able to find data on prices of opening. That time prices were taken from daily papers, which, due to some reason, stopped publishing prices of opening.

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