The Volume Oscillator (VO) charts the difference between 2 moving averages of volume. The VO helps to determine if the volume trend is rising or falling. The user may change the method (SMA) and period lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using the Volume Oscillator
No trading signals are calculated for this indicator.
How To Access in MotiveWave
Go to the top menu, choose Study>Volume Based>Volume 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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//method = moving average (ma), user defined, default is SMA
//period1 = user defined, default is 10
//period2 = user defined, default is 30
//index = current bar number
MA1 = ma(method, index, period1, VOLUME); MA2 = ma(method, index, period2, VOLUME); Plot: VO = MA1 - MA2;