TFS: Volume Oscillator

[eSignal]

File Name: TSF_VolOscAvg.efs

Description:
TFS: Volume Oscillator

Formula Parameters:
AvgLen : 7

Notes:
This is the second part of TFS trading strategy. The concept of this
indicator is similar to that of On-Balance Volume indicator (OBV). It
is calculated according to these rules:
If Close > Open, Volume is positive
If Close < Open, Volume is negative
If Close = Open, Volume is neutral
Then you take the 7-day MA of the results.


Download File:
TSF_VolOscAvg.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:        
    TFS: Volume Oscillator 
    
Version:            1.0  05/28/2009
 
Formula Parameters:                     Default:
    AvgLen                              7
    
Notes:
    This is the second part of TFS trading strategy. The concept of this 
    indicator is similar to that of On-Balance Volume indicator (OBV). It 
    is calculated according to these rules:
    If Close > Open, Volume is positive
    If Close < Open, Volume is negative
    If Close = Open, Volume is neutral
    Then you take the 7-day MA of the results. 

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

function preMain() {
    setStudyTitle("TFS: Volume Oscilator");
    setCursorLabelName("VolOsc",0);
    setPlotType(PLOTTYPE_HISTOGRAM, 0);
    setDefaultBarFgColor(Color.blue, 0);
    addBand(0, PS_SOLID, 1, Color.red);
    var x = 0;
    fpArray[x] = new FunctionParameter("AvgLen", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(1);
        setDefault(7);
    }    
}

var xTFS_VolumeOsc = null;

function main(AvgLen) {
var nBarState = getBarState();
var nTFS_VolumeOsc = 0;
    if (nBarState == BARSTATE_ALLBARS) {
        if (AvgLen == null) AvgLen = 7;
    }
    if (bInit == false) {
        xTFS_VolumeOsc = efsInternal("Calc_TFS_VolumeOsc", AvgLen);
        bInit = true;
    }
    nTFS_VolumeOsc = xTFS_VolumeOsc.getValue(0);
    if (nTFS_VolumeOsc == null) return;
    return nTFS_VolumeOsc;
}

var bSecondInit = false;
var xClose = null;
var xOpen = null;
var xVolume = null;

function Calc_TFS_VolumeOsc(AvgLen) {
var nRes = 0;
var i = 0;
var nVolAccum = 0;
    if (bSecondInit == false) {
        xClose = close();
        xOpen = open();
        xVolume = volume();
        bSecondInit = true;
    }
    if (xClose.getValue(-AvgLen) == null) return;
    for (i = 0; i < AvgLen; i++) {
        if (xClose.getValue(-i) > xOpen.getValue(-i)) nVolAccum += xVolume.getValue(-i);
        if (xClose.getValue(-i) < xOpen.getValue(-i)) nVolAccum -= xVolume.getValue(-i);
    }
    nRes = nVolAccum / AvgLen;
    return nRes;
}