Indicators: Volume-Weighted MACD Histogram & Sentiment Zone Osc

Volume-Weighted MACD Histogram
Volume-Weighted MACD Histogram, first discussed by Buff Dormeier, is a modified version of MACD study. It calculates volume-averaged Close price for finding the histogram.

More info:

Sentiment Zone Oscillator
Sentiment Zone Oscillator, developed by Walid Khalil, is a complementing oscillator to VZO and PZO.

To quote Walid:

>> The sentiment zone oscillator (SZO) is a leading contrary oscillator that measures the extreme emotions of a single market or share.
>> It measures and defines both extremes, bullishness (overoptimism) and bearishness (overpessimism), that could lead to a change
>> in sentiment, eventually changing the trend of the time frame under study. The SZO was devised on the belief that after several waves
>> of rising prices, investors begin to get bullish on the stock with increasing confidence since the price has been rising for some time.
>> The SZO measures that bullishness/bearishness and marks overbought/oversold levels.

SZO has its own oversold/overbought bands. Also, when SZO goes above 7, it indicates extreme optimism. When the SZO goes below -7, it indicates extreme pessimism.

More info:

How to import / use custom indicators from this chart?
Remove from Favorite Scripts Add to Favorite Scripts
// @author LazyBear
// If you use this code in its original/modified form, do drop me a note. 
study("Volume Weighted MACD [LazyBear]", shorttitle="VWMACD_LB")
slow = input(12, "Short period")
fast = input(26, "Long period")
signal = input(9, "Smoothing period")

maFast = ema( volume * close, fast ) / ema( volume, fast ) 
maSlow = ema( volume * close, slow ) / ema( volume, slow ) 
d = maSlow - maFast 
maSignal = ema( d, signal ) 

h_color=dm>=0? (dm>dm[1]?green:orange) : (dm<dm[1]?red:orange)
plot( dm, style=histogram, color=h_color, linewidth=3)

// Easter Egg! Have fun :)
// d_color=d>=0? (d>d[1]?green:orange) : (d<d[1]?red:orange)
// zl=plot(0, color=gray)
// dl=plot(d, style=line, color=d_color, linewidth=4)
// fill(zl, dl, silver)
+1 Reply
Dear friend, can`t find sentiment source code
I found another amazing indicator from you.
Thank you!!!
Thanks again for the contribution! Love the egg ;)
LazyBear PRO accidentje
yw :)
+1 Reply
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