OPEN-SOURCE SCRIPT
Volume Oscillator + Price Action / Owl of Profit
Volume Oscillator + Price Action Strategy
This strategy combines the Volume Oscillator with a Moving Average (MA) to identify trend-following entry and exit points based on momentum and price action.
Features:
Volume Oscillator:
Measures the difference between short-term and long-term EMA of volume.
Short Length: 14 (default).
Long Length: 28 (default).
Helps identify increasing or decreasing momentum in trading activity.
Price Action Moving Average (MA):
A 50-period Simple Moving Average (default) used to determine the overall price trend.
Entry and Exit Logic:
Long Condition:
Volume Oscillator crosses above zero.
Price is above the Moving Average.
Short Condition:
Volume Oscillator crosses below zero.
Price is below the Moving Average.
Exit Long:
Volume Oscillator crosses below zero.
OR price crosses below the Moving Average.
Exit Short:
Volume Oscillator crosses above zero.
OR price crosses above the Moving Average.
Visualization:
Volume Oscillator:
Plotted as a blue line with a horizontal zero line for reference.
Price Moving Average:
Plotted as an orange line on the price chart to show trend direction.
Zero Line:
A horizontal line at zero to help visualize the Volume Oscillator crossovers.
Customization:
Adjustable lengths for Volume Oscillator and Moving Average to fit different market conditions.
This strategy is perfect for traders looking to combine momentum from volume changes with trend-following price action for precise entries and exits.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
This strategy combines the Volume Oscillator with a Moving Average (MA) to identify trend-following entry and exit points based on momentum and price action.
Features:
Volume Oscillator:
Measures the difference between short-term and long-term EMA of volume.
Short Length: 14 (default).
Long Length: 28 (default).
Helps identify increasing or decreasing momentum in trading activity.
Price Action Moving Average (MA):
A 50-period Simple Moving Average (default) used to determine the overall price trend.
Entry and Exit Logic:
Long Condition:
Volume Oscillator crosses above zero.
Price is above the Moving Average.
Short Condition:
Volume Oscillator crosses below zero.
Price is below the Moving Average.
Exit Long:
Volume Oscillator crosses below zero.
OR price crosses below the Moving Average.
Exit Short:
Volume Oscillator crosses above zero.
OR price crosses above the Moving Average.
Visualization:
Volume Oscillator:
Plotted as a blue line with a horizontal zero line for reference.
Price Moving Average:
Plotted as an orange line on the price chart to show trend direction.
Zero Line:
A horizontal line at zero to help visualize the Volume Oscillator crossovers.
Customization:
Adjustable lengths for Volume Oscillator and Moving Average to fit different market conditions.
This strategy is perfect for traders looking to combine momentum from volume changes with trend-following price action for precise entries and exits.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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