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Views:: 6991
Rating:: (12)
Published:: 2018.07.13 15:22

VFO.mq5 (19.79 KB) view

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Indicator VFO (Volume Flow Oscillator) is based on standard indicator OBV (On Balance Volume). It was described in the Technical Analysis of Stocks & Commodities magazine in June, 2004.

Its values above zero are bullish and indicate accumulating, while those below zero indicate distributing.

Divergences between the price and the indicator values may indicate a forthcoming change in the trend.

The indicator has four configured parameters:

Period - calculation period;
Dev Coefficient - standard deviation coefficient;
Vol Coefficient - yesterday's volume impact factor;
Smoothing period - smoothing period.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21169

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VFO - indicator for MetaTrader 5