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Percent Volume Oscillator - PVO
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PVO (Percent Volume Oscillator)
The attachment shows the indicator being used as a sell signal along with stochastics (when they are pinching together). Suggestion in context is for using as an exit from a PPO - ADX Pinching trade entry setup. (for equities in my case). I found a formula for PVO (different from PPO) as follows:
PVO = ((Volume_EMA_Fast - Volume_EMA_Slow) / Volume_EMA_Fast) x 100
I was able to create the histogram using this formula in a custom indicator - but would also like to have the moving average lines as shown in the attachment. (I copied and modified the VolumeOscillator for this).
I was thinking this might be a known indicator but did a search and didn't find many hits for it. In my case I'm looking for a good sell indicator and have others I can use. It's not a big deal but wanted to check just in case it was a known indicator that others have used and also if there's a 3rd party version available.
I am not the author of the attachment and give due credit to whoever the originator is. Here's the link for the source of the attached image.
ThanksLast edited by dwhall; 04-20-2010, 06:50 PM.
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