Volume Osc (Indicator)Analysis Techniques & Strategies
Volume Osc (Indicator)
| Name | Expression | Default | Description |
| FastLength | Numeric | 14 | Number of bars used to calculate the fast volume moving average. |
| SlowLength | Numeric | 28 | Number of bars used to calculate the slow volume moving average. |
| ColorNormLength | Numeric | 14 | Number of bars over which to normalize the indicator for gradient coloring. |
| UpColor | Numeric | Yellow | Color to use for indicator values that are relatively high over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| DnColor | Numeric | Magenta | Color to use for indicator values that are relatively low over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| GridForegroundColor | Numeric | Black | Color to use for numbers in RadarScreen cells when gradient coloring is enabled, that is, when both UpColor and DnColor are set to non-negative values. |
The Volume Oscillator indicator calculates a fast and slow volume moving average. The difference between the two (fast volume ma - slow volume ma) is then plotted as a histogram. The histogram, like an oscillator, fluctuates above and below a zero line. Volume can provide insight into the strength or weakness of a price trend. This indicator plots positive values above the zero line, and negative below. A positive value suggests there is enough market support to continue to drive price activity in the direction of the current trend. A negative value suggests there is a lack of support and prices may begin to become stagnant or reverse.
| Number | Name | Default Color | Description |
| Plot1 | VolOsc | Yellow/Magenta | Plots the Volume Oscillator value. |
| Plot2 | ZeroLine | Dark Green | Plots a reference line at zero. |
When applied to a chart, this indicator contains two plots, displayed in a separate subgraph from the price data.
Set either UpColor and/or DnColor to -1 to disable gradient plot coloring. When disabled, Plot1 color is determined by settings in indicator properties dialog box. Plot2 (ZeroLine) color always comes from indicator properties dialog box.
This indicator only returns significant results when applied to bars with a time interval of daily or larger.
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