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INVITE-ONLY SCRIPT
Updated

WhaleCrew VZO

1 086
The VZO is a volume-based oscillator that is related to the on-balance volume.

Components
  • Overbought & Oversold Zones
  • Zero Line (acts as support/resistnace)
  • Divergence Detection (regular and hidden divergences)
  • Dynamic Colors
  • Highlight Extremes
  • Reversal Risk Arrows
  • Threshold System
  • Custom Symbol Option (e.g. for using volume data of a bigger exchange)


Usage
This indicator can be used to identify overbought and oversold market conditions. Unlike the RSI it takes volume into account, which makes it an ever stronger tool.
You can look for divergences, extremes and retests/rejections of the zero-line to predict the future more accurately.
Some traders also like to trade crosses above/below the zero-line as they often mark a sentiment shift.
The Reversal Risk Arrows are plotted when the oscillator is overbought or oversold and at risk of reversing.
Our threshold system allows you to get alerted whenever the VZO has been above/below a certain threshold for a custom amount of candles.

Access to this indicator can be obtained through our website.
Release Notes
Updated custom symbol setting
Release Notes
Improved custom symbol section
Release Notes
Fixed an issue occuring when volume data was "corrupted"
Release Notes
Fixed custom symbol

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact WhaleCrew directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Access to this indicator can be obtained through our website.

Warning: please read our guide for invite-only scripts before requesting access.

WhaleCrew
Also on:
OscillatorsVolumevolumezoneoscillator

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
OscillatorsVolumevolumezoneoscillator

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact WhaleCrew directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Access to this indicator can be obtained through our website.

Warning: please read our guide for invite-only scripts before requesting access.

WhaleCrew
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.