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xdecow

Volume Zone Oscillator [xdecow]

xdecow Updated   
On Balance Volume (OBV) vzo volumezoneoscillator volumezone pvt
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onbalancevolume vzo volumezoneoscillator volumezone pvt
Volume Zone Oscillator (VZO) is an indicator that presents a different way of looking at OBV.
VZO is a difference (delta) between OBV and an exponential moving average.
The EMA becomes the baseline 0.

And in this way we can observe the strength of the movements, overbought and oversold (when the OBV is far from the average) and divergences.
Release Notes:
Added smooth option
Release Notes:
Bar colors disabled by default.
Default smoothing value reduced to 4.
Open-source script

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