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- Published:
- 2018.11.20 12:43
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Slow Volume Strength Index oscillator defines the volume momentum. The indicator was first described in "Stock&Commodities" (April 2015).
There are five inputs:
- EMA period - EMA calculation period
- Smoothing - smoothing period
- Overbought - overbought level
- Middle - middle line
- Oversold - oversold level
Interpretation:
When the oscillator value goes below 20, the market is considered to be oversold, which means it is time to look for long entries.
When the oscillator values go above 80, the market is overbought meaning it is time to look for short entries.
The overbought/oversold levels, middle line and divergences relative to the oscillator axial line are considered.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/23127