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Volume Oscillator for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
oscillator, trading system, amibroker
This Steve Wiser Volume Oscillator has been here already. I modified it a little and it can be used instead of KPVS in KP System as posted earlier here. KPVS would be the best but this one works excellently well too and is a good substitute.
Yellow colored oscillator values are suitable for YM ( Dow e-mini futures) in this formula.
You have to change the oscillator yellow color values according to type of security you trade.
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Indicator / Formula
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_SECTION_BEGIN("VolumeOscillator");
/* Volume Oscillator */
/* Indicator, system, and exploration */
/* Steve Wiser slwiserr@erols.com */
SetChartBkColor(ParamColor("Panel Color",colorLightGrey));
SetChartBkGradientFill(ParamColor("Upper Chart",colorLightGrey),ParamColor("Lower Chart",colorLightGrey));
PlusDM= IIf(High>Ref(High,-1) AND Low>=Ref(Low,-1), High-Ref(High,-1),
IIf(High>Ref(High,-1) AND Low<Ref(Low,-1)
AND High-Ref(High,-1)>Ref(Low,-1)-Low,
High-Ref(High,-1),0));
Vm=log(EMA(V,3));
Buy= (C-L)*Vm+ (H-O)*Vm +
IIf(C>O,(C-O)*Vm,0) + PlusDM*Vm +
IIf(Ref(C,-1)<O,(O-Ref(C,-1))*Vm,0);
MinDM = IIf(Low<Ref(Low,-1) AND High<=Ref(High,-1), Ref(Low,-1)-Low,
IIf(High>Ref(High,-1) AND Low<Ref(Low,-1)
AND High-Ref(High,-1)<Ref(Low,-1)-Low, Ref(Low,-1)-Low, 0));
Sell= (H-C)*Vm + (O-L)*Vm +
IIf(C<O,(O-C)*Vm,0) + MinDM*Vm +
IIf(Ref(C,-1)>O,(Ref(C,-1)-O)*Vm,0);
Wm=Wilders(Wilders(Buy,3)-Wilders(Sell,3),3);
Wm1=MA(Wm,8);
Color=IIf(Wm >10,colorBlue,IIf(Wm < -10,colorRed,7));
Plot(Wm,"Volume",Color,2|styleThick);
Plot(Wm1,"Wm(8P)",10,styleLine|styleThick);
Plot(0,"",ParamColor("Zero Line",colorGrey50),styleLine|styleNoLabel);
/*Plot(100,"",32,styleLine|styleThick | styleNoLabel);
Plot(-100,"",12,styleLine|styleThick | styleNoLabel);
Plot(50,"",9,styleLine | styleNoLabel|styleThick);
Plot(-50,"",9,styleLine | styleNoLabel|styleThick);*/
_SECTION_END();5 comments
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i hope no body is getting the plot.
for tht u need to change :
every ‘Sell’ word to ‘s’ &
every ‘Buy’ word to ‘b’
and plot will be there.
i’m just correcting the code.u check the reliability of the code
thanx
If you change Sell to ‘s’ and Buy to ‘b’ you get exactly the same result on the chart and I get the plot as it is written.
But after all you are right because this is a volume oscillator and should not imply buying and selling decision.
It only indicates that. So the original Steve Wiser’s version was with Sell, Buy – anybody can change it to ‘s’ and ‘b’.
i’m sorry. i didn’t want to temper the code unnecessarily. originally i didn’t got the plot.
after my tweaking, i got it so to help others i posted the remedy.
Also, the values for the yellow colors on this oscillator must be changed not only according to security you trade but the time-frame as well. So for 2 min time-frame @YM the value is 10 and -10 but on 90 min it would be 100 and -100 so the transition from both colors is indicative. Same thing for range bars or contract volume bars.
For those using this Indicator with KP System add this code for background color change. You have to have appropriate plug-in.