Klinger Volume Oscillator (KVO) was developed by Stephen Klinger. KVO has two features that may seem opposed to each other at the first glance: it is quite sensitive to the signals of short-term tops and bottoms but at the same time it displays long-term money flows heading to and out of the market quite accurately.
KVO indicator is based on the following principles:
Klinger recommends the following basic concepts when applying KVO:
It should be repeated that KVO works well during trade operations in direction of a trend and is less efficient in case working against a trend.
This indicator allows to select the smoothing type of XCVO basic histogram and its signal line out of ten possible versions:
It should be noted that Phase type parameters for different smoothing algorithms have completely different meaning. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/511
BB XMACD is a simple MACD indicator variation.XMACD
Standard colored MACD histogram allowing to select smoothing algorithms from ten possible variants and containing alerts.