OPEN-SOURCE SCRIPT
TFS: Volume Oscillator Backtest
This is the second part of TFS trading strategy. The concept of this
indicator is similar to that of On-Balance Volume indicator (OBV). It
is calculated according to these rules:
If Close > Open, Volume is positive
If Close < Open, Volume is negative
If Close = Open, Volume is neutral
Then you take the 7-day MA of the results.
You can change long to short in the Input Settings
WARNING:
- For purpose educate only
- This script to change bars colors.
indicator is similar to that of On-Balance Volume indicator (OBV). It
is calculated according to these rules:
If Close > Open, Volume is positive
If Close < Open, Volume is negative
If Close = Open, Volume is neutral
Then you take the 7-day MA of the results.
You can change long to short in the Input Settings
WARNING:
- For purpose educate only
- This script to change bars colors.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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