VOLUME ZONE OSCILLATOR

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VOLUME ZONE OSCILLATOR

Postby Apprentice » Sun Oct 28, 2012 8:36 am

vzo.gif

Based on TS2/Lua version.
viewtopic.php?f=17&t=22397
In his book Technical Analysis Of The Financial Markets, John J. Murphy explains that using oscillators provides three benefits:
Overbought and oversold conditions warn that the price trend is overextended and vulnerable.
The divergence between oscillator and price action shows hidden strength or weakness in the market, which is not apparent in the price action.
The crossing of the zero line can give an important trading signal.
The formula depends on only one condition: If today’s closing price is higher than yesterday’s, then the volume will have a positive value (bullish). Otherwise, it will have a negative value
VZO.MQ4
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VZO Signal Line.MQ4
(4.36 KiB) Downloaded 1648 times


VZO.mq5
(5.95 KiB) Downloaded 292 times
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Re: VOLUME ZONE OSCILLATOR

Postby juju1024 » Sun Oct 28, 2012 9:43 am

Thank you very much ;)
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Re: VOLUME ZONE OSCILLATOR

Postby Apprentice » Wed Jan 02, 2019 5:50 am

VZO Signal Line.MQ4 added.
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Re: VOLUME ZONE OSCILLATOR

Postby alienfriend18 » Sat Mar 14, 2020 11:47 am

Not working
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Re: VOLUME ZONE OSCILLATOR

Postby alienfriend18 » Sat Mar 14, 2020 12:50 pm

Sorry, please ignore the early post. solved
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Re: VOLUME ZONE OSCILLATOR

Postby logicgate » Tue Jul 20, 2021 7:02 am

Hi there buddy, can we get a MT5 version of this indicator?

Thanks
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Re: VOLUME ZONE OSCILLATOR

Postby Apprentice » Wed Jul 21, 2021 12:18 am

Your request is added to the development list.
Development reference 669.
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