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Calculates the standard Money Flow Index (MFI) oscillator alongside an exponential moving average signal line in a separate pane. The script visually highlights trend conditions through dynamic ribbon filling, optional difference histogram bars, and overbought
Indicator · Pine Script v5 · Own pane
Klinger Oscillator
The Klinger Oscillator evaluates long-term volume flow trends while staying responsive to short-term price movements.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code11
Settings0inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
11 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Klinger-Oscillator.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Klinger Oscillator", format=format.volume, timeframe="", timeframe_gaps=true)
var cumVol = 0.
cumVol += nz(volume)
if barstate.islast and cumVol == 0
runtime.error("No volume is provided by the data vendor.")
sv = ta.change(hlc3) >= 0 ? volume : -volume
kvo = ta.ema(sv, 34) - ta.ema(sv, 55)
sig = ta.ema(kvo, 13)
plot(kvo, color = #2962FF)
plot(sig, color = #43A047)
Overview
Klinger Oscillator calculates signed volume by determining whether the typical price (HLC3) increased or decreased relative to the previous bar. The main oscillator line represents the difference between a 34-period and 55-period exponential moving average of signed volume, plotted alongside a 13-period EMA signal line in a separate pane to help identify volume trends and momentum crossovers.
- Volume-based money flow measurement
- Signed volume based on HLC3 price changes
- Dual EMA volume oscillator with signal line plot
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volume, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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