Volume Zone Oscillator

[Import]

Gurjit Sodia asked "Volume Zone Oscillator"
Wednesday, July 28, 2010 10:48 AM

Hi Chris, Dave Steckler had a chart displayed with Volume Zone Oscllator ( VZO ). I have copied Equis Metastock Indicator builder formula from the theses;

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Period:=Input("y",2,200,14);
R:=If(C>Ref(C,1),v,-v);
VP:=Mov(R,Period,E); ( Edge; EMA(R,period)
TV:=Mov(V,period,E);  (Edge; EMA(V,period)
VZO:=100*(VP/TV);
VZO

Chris White responded to "Volume Zone Oscillator"
Wednesday, July 28, 2010 10:48 AM

Hi Gurjit,

One way to code this in Chart Script is like this:

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PERIOD:=14;
R:= If (C > Ref(C, 1), V, -V);
VP:= EMA(R, PERIOD[0]);
TV:= EMA(V, PERIOD[0]);
VZO: 100 * (VP / TV);

But you can also use Chart Script parameters and add a parameter to your script so it might look like this:



Once you add the parameter, you can use it within your script like this:

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R:= If (C > Ref(C, 1), V, -V);
VP:= EMA(R, PERIOD);
TV:= EMA(V, PERIOD);
VZO: 100 * (VP / TV);

When you add your new VZO indicator to a chart it will look like this:



Hope that helps!
Chris.