Volume Accumulation Oscillator
The Volume Accumulation Oscillator (VAO) was authored by Marc Chaikin. The VAO is the product of the volume times the difference of the current price and the midpoint price. The user may change only the input (close). This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Volume Accumulation Oscillator
The Volume Accumulation Oscillator may be used as a divergence indicator with the high and low price. No trading signals, however, are calculated for this indicator.
How To Access in MotiveWave
Go to the top menu, choose Study>Marc Chaikin>Volume Accumulation Oscillator
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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//input = price, user defined, default is closing price
Plot: vao = volume * (price - (high + low) / 2);