HPotter

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.
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 09/06/2014
// 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.
////////////////////////////////////////////////////////////
study(title="Klinger Volume Oscillator (KVO)", shorttitle="KVO")
TrigLen = input(13, minval=1)
FastX = input(34, minval=1)
SlowX = input(55, minval=1)
hline(0, color=gray, linestyle=line)
xTrend = iff(hlc3 > hlc3[1], volume * 100, -volume * 100)
xFast = ema(xTrend, FastX)
xSlow = ema(xTrend, SlowX)
xKVO = xFast - xSlow
xTrigger = ema(xKVO, TrigLen)
plot(xKVO, color=blue, title="KVO")
plot(xTrigger, color=red, title="Trigger")
fxtrader66
2 years ago
You have some great coding skills! TY. Would like to know if you could make a (Smart Money Index) It's a great tool to have! Heres a description of it. http://en.wikipedia.org/wiki/Smart_money_index TY for all the indicators you have developed!
Reply
HPotter PRO fxtrader66
2 years ago
Thx. I will try
Reply
fxtrader66 HPotter
2 years ago
TY!
Reply
HPotter PRO fxtrader66
2 years ago
Smart Money Index (SMI)
The first attempt
Reply
fxtrader66 HPotter
2 years ago
TY for the quick response, was quite surprised! I trade CFDs, does this work on a 1 hr time frame for the SPX500- US30 - GER30
(read your notes on time setting for ES) I have a similar version on my platform from FXCM that does not have the ability to enter the time frame of nine thirty, can only enter nine then length of session. so its a skewed reading. Yet it does give me an idea of what big money is doing. Here is a screen shot of the it Chart 1 http://s1336.photobucket.com/user/elpuerto93/media/smartmoneyindex_zpsedb1ca6b.png.html chart 2 http://s1336.photobucket.com/user/elpuerto93/media/SMI2_zps03f14e94.png.html Have a good day!
Reply
fxtrader66 HPotter
2 years ago
This also works well with currencies. I set the euusd to British trading hours. London open to London close. (3 is 9 uk time 7 hrs session) its off a half hour too at eod but still gives information. While the eurusd pair was flirting with 1.40 this winter the SMI was showing SM selling http://s1336.photobucket.com/user/elpuerto93/media/SMIEURUSD_zps359d13f2.png.html
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