KVO – Klinger Volume Oscillator [Custom Command]

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  • Klinger Volume Oscillator (KVO)

    The Klinger Oscillator (KO) was developed by Stephen J. Klinger. Learning
    from prior research on volume by such well-known technicians as Joseph Granville,
    Larry Williams, and Marc Chaikin, Mr. Klinger set out to develop a volume-based
    indicator to help in both short- and long-term analysis.
    The KO was developed with two seemingly opposite goals in mind: to be sensitive
    enough to signal short-term tops and bottoms, yet accurate enough to reflect the
    long-term flow of money into and out of a security.
    The KO is based on the following tenets:
    Price range (i.e. High – Low) is a measure of movement and volume is the force behind
    the movement. The sum of High + Low + Close defines a trend. Accumulation occurs when
    today’s sum is greater than the previous day’s. Conversely, distribution occurs when
    today’s sum is less than the previous day’s. When the sums are equal, the existing trend
    is maintained.
    Volume produces continuous intra-day changes in price reflecting buying and selling pressure.
    The KO quantifies the difference between the number of shares being accumulated and distributed
    each day as “volume force”. A strong, rising volume force should accompany an uptrend and then
    gradually contract over time during the latter stages of the uptrend and the early stages of
    the following downtrend. This should be followed by a rising volume force reflecting some
    accumulation before a bottom develops.

    kvo_all = CC_KVO(CurrentInterval(),13,34,55,PriceMarket(),true)
    kvo = kvo_all[1]
    kvo_trigger = kvo_all[2]

    HaasScript Code
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