by 
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
Volume Oscillator
This indicator plots a volume oscillator in a separate pane.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code13
Settings2inputs
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
13 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Volume-Oscillator.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Volume Oscillator", shorttitle="Volume Osc", format=format.percent, precision=2, 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.")
shortlen = input.int(5, minval=1, title = "Short Length")
longlen = input.int(10, minval=1, title = "Long Length")
short = ta.ema(volume, shortlen)
long = ta.ema(volume, longlen)
osc = 100 * (short - long) / long
hline(0, color = #787B86, title="Zero")
plot(osc, color=#2962FF)
Overview
Volume Oscillator calculates exponential moving averages of volume over short and long lengths, then expresses their difference as a percentage of the longer average. A horizontal zero line marks when the short average equals the long average. The two length inputs change those smoothing periods. The script stops with an error when the data vendor supplies no volume. It does not generate trade entries or exits.
- Short and long volume EMAs
- Percent difference oscillator
- Horizontal zero line
- Adjustable EMA lengths
- Missing-volume runtime error
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volume
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Short Length | int | 5 | shortlen |
| Long Length | int | 10 | longlen |
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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