DecisionPoint Volume Swenlin Trading Oscillator [LazyBear] — Indicator by LazyBear

lazybear custom indicators swenlin volume market oscillator

This is the volume version of "DecisionPoint Breadth Swenlin Trading Oscillator"

DecisionPoint Swenlin Trading Oscillator can be used to identify short-term tops and bottoms. You can read about the interpretation of the signals (& gotchas) in the link below.

I have added support for NYSE / NASD / AMEX and also a combined mode. You can specify custom advancing/declining volume symbols too.

More Info:
DBSTO:

DecisionPoint Breadth Swenlin Trading Oscillator [LazyBear]

Article:

List of my public indicators:
List of my app-store indicators:

Having both Swenlin Breadth and Volume oscillators help spot the divergences quickly:

List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970

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.

Want to use this script on a chart?

//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
study("DecisionPoint Volume Swenlin Trading Oscillator [LazyBear]", shorttitle="DVSTO_LB", overlay=false, precision=5)
mkt = input (defval=1, minval=0, maxval=4, title="Market (0=>AMEX/NASD/NYSE Combined, 1=NYSE, 2=NASDAQ, 3=AMEX, 4=CUSTOM)")
aic=input(defval="AVVD", title="CUSTOM: Advancing Volume Symbol", type=symbol)
dic=input(defval="DVCD", title="CUSTOM: Declining Volume Symbol", type=symbol)
res = isintraday?"D":period // dont go below "D"
advn="AVVN", decn="DVCN" // NYSE
advnq="AVVQ", decnq="DVCQ" // NASDAQ
advna="AVVA", decna="DVCA" // AMEX
advc="(AVVN+AVVQ+AVVA)/3.0", decc="(DVCN+DVCQ+DVCA)/3.0"
adv= security(mkt==0? advc:mkt == 1? advn:mkt == 2? advnq:mkt == 3? advna:aic, res, close)
dec= security(mkt==0? decc:mkt == 1? decn:mkt == 2? decnq:mkt == 3? decna:dic, res, close)
i=(adv-dec)/(adv+dec)
sto=sma(ema(i * 1000, 4), 5)
sh=input(true, title="Show Histo")
plot(0, color=gray, title="MidLine")
plot(sh?sto:na, style=histogram, color=sto>0?sto>sto[1]?green:orange:sto<sto[1]?red:orange, title="Histo")
plot(sto, linewidth=2, color=maroon, title="DSTO-Volume")