A remix of the built-in Divergence Indicator that uses a Klinger Volume Oscillator instead of RSI to help spot divergent patterns in volume activity in relation to price.
Additions:
Additions:
- Basic color coding:
- Positive volume (above center line) == buying
- Negative volume (below center line) == selling
Alerts for Bullish, Hidden Bullish, Bearish, and Hidden Bearish signals
Release Notes:
Fix Alerting and Update Description
How to read:
The klinger volume oscillator is a way of visualizing volume using a centered oscillation. This means that positive values (above zero) signify buying force volume and that conversely negative values signify selling force volume. Values above and below the centerline have been color coded for easier reading of the oscillation. The signal line is a 13-period moving average that could indicate shifts in trends. Bullish/Bearish tags will be displayed if the indicator, based on the look back configuration, detects a divergence between the volume action and price, eg. if price creates a higher high and volume does not. Overall this indicator could help in spotting trend shifts be should not be used solely as a trading strategy.
How to read:
The klinger volume oscillator is a way of visualizing volume using a centered oscillation. This means that positive values (above zero) signify buying force volume and that conversely negative values signify selling force volume. Values above and below the centerline have been color coded for easier reading of the oscillation. The signal line is a 13-period moving average that could indicate shifts in trends. Bullish/Bearish tags will be displayed if the indicator, based on the look back configuration, detects a divergence between the volume action and price, eg. if price creates a higher high and volume does not. Overall this indicator could help in spotting trend shifts be should not be used solely as a trading strategy.