Combo Backtest 123 Reversal & Percentage Volume Oscillator (PVO)

This is combo strategies for get a cumulative signal.

First strategy
This System was created from the Book "How I Tripled My Money In The
Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies.
The strategy buys at market, if close price is higher than the previous close
during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50.
The strategy sells at market, if close price is lower than the previous close price
during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50.

Second strategy
The Percentage Volume Oscillator ( PVO ) is a momentum oscillator for volume .
PVO measures the difference between two volume-based moving averages as a
percentage of the larger moving average. As with MACD and the Percentage Price
Oscillator ( PPO ), it is shown with a signal line, a histogram and a centerline.
PVO is positive when the shorter volume EMA is above the longer volume EMA and
negative when the shorter volume EMA is below. This indicator can be used to define
the ups and downs for volume , which can then be use to confirm or refute other signals.
Typically, a breakout or support break is validated when PVO is rising or positive.

- For purpose educate only
- This script to change bars colors.

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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