Klinger Volume Oscillator (KVO)

[eSignal]

File Name: KVO.efs

Description:
Klinger Volume Oscillator (KVO)

Formula Parameters:
TrigLen : 13
FastX : 34
SlowX : 55


Notes:
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.


Download File:
KVO.efs



EFS Code:

/*********************************
Provided By:  
    eSignal (Copyright c eSignal), a division of Interactive Data 
    Corporation. 2009. All rights reserved. This sample eSignal 
    Formula Script (EFS) is for educational purposes only and may be 
    modified and saved under a new file name.  eSignal is not responsible
    for the functionality once modified.  eSignal reserves the right 
    to modify and overwrite this EFS file with each new release.

Description:        
    Klinger Volume Oscillator (KVO) 
    
Version:            1.0  05/27/2009
 
Formula Parameters:                     Default:
    TrigLen                             13
    FastX                               34
    SlowX                               55
    
Notes:
    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.

**********************************/
var fpArray = new Array();
var bInit = false;

function preMain() {
    setStudyTitle("Klinger Volume Oscillator");
    setCursorLabelName("KVO",0);
    setCursorLabelName("Trigger",1);    
    setDefaultBarFgColor(Color.red,0);
    setDefaultBarFgColor(Color.brown,1);
    addBand(0, PS_SOLID, 1, Color.black);
    var x = 0;
    fpArray[x] = new FunctionParameter("TrigLen", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(1);
        setDefault(13);
    }    
    fpArray[x] = new FunctionParameter("FastX", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(1);
        setDefault(34);
    }    
    fpArray[x] = new FunctionParameter("SlowX", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(1);
        setDefault(55);
    }    
}

var xKVO = null;
var xTrigger = null;

function main(FastX, SlowX, TrigLen){
var nBarState = getBarState();
var nKVO = 0;
var nTrigger = 0;
    if (nBarState == BARSTATE_ALLBARS) {
        if(FastX == null) FastX = 34;
        if(SlowX == null) SlowX = 55;
        if(TrigLen == null) TrigLen = 13;
    }    
    if (bInit == false) {
        xKVO = efsInternal("Calc_KVO", FastX, SlowX);
        xTrigger = ema(TrigLen, xKVO);
        bInit = true;
    }
    nKVO = xKVO.getValue(0);
    nTrigger = xTrigger.getValue(0);
    if (nTrigger == null) return;
    return new Array(nKVO, nTrigger);
}

var bSecondInit = false;
var xFast = null;
var xSlow = null;
var xTrend = null;

function Calc_KVO(FastX, SlowX) {
var nRes = 0;
var FXAvg = 0;
var SXAvg = 0;
    if (bSecondInit == false) {
        xTrend = efsInternal("Calc_Trend");
        xFast = ema(FastX, xTrend);
        xSlow = ema(SlowX, xTrend);
        bSecondInit = true;
    }
    FXAvg = xFast.getValue(0);
    SXAvg = xSlow.getValue(0);
    if (SXAvg == null) return;
    nRes = FXAvg - SXAvg;
    return nRes;
}

var xhlc3 = null;

function Calc_Trend() {
var nRes = 0;
    if (xhlc3 == null) xhlc3 = hlc3();
    if (xhlc3.getValue(-1) == null) return;
    if(xhlc3.getValue(0) > xhlc3.getValue(-1))
        nRes = 1;
    else
        nRes = -1;
    nRes = volume(0) * nRes * 100;
    return nRes;
}