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skyline-trader

Volume Zone Oscillator and Price Zone Oscillator (VZO/PZO)

skyline-trader Mod  
Oscillators Volume vzo pzo volumezoneoscillator swissknife
281
4
oscillator volumestudies vzo pzo volumezoneoscillator swissknife
Credits go to @NeoButane as basis is taken from his open-source code and I modified it - changes described below.

Usage:
Positive -> bullish, negative -> bearish
-60/60 is seen as the limit of the oscillator range, and a pullback should be expected from there
-40/40 are in general Oversold/Overbought levels

Modifications:
  • added alerts
  • added Divergences formula
  • added additional types of smoothing
  • added signal display based on described above usage (extreme levels of oscillations and bounce back)

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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