Volume Zone Oscillator and Price Zone Oscillator (VZO/PZO)
Credits go to NeoButane as basis is taken from his open-source code and I modified it - changes described below.
Usage: Positive -> bullish, negative -> bearish -60/60 is seen as the limit of the oscillator range, and a pullback should be expected from there -40/40 are in general Oversold/Overbought levels
Modifications:
added alerts
added Divergences formula
added additional types of smoothing
added signal display based on described above usage (extreme levels of oscillations and bounce back)
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 publications is governed by House rules. 您可以收藏它以在圖表上使用。