OPEN-SOURCE SCRIPT

Volume Flow Oscillator (VFO)

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I created the Volume Flow Oscillator (VFO) to explore the intricate interplay between volume and price movements over a specific lookback period. This tool contrasts volumes that move in sync with the price against those that move in opposition, signaling potential overbought or oversold territories. To determine the direction, I compare the current price to its value four periods back, shedding light on underlying bullish or bearish momentum. The VFO enriches my analysis and decision-making by offering a detailed perspective on how volume trends correlate with price changes. Its color-coded visuals are crucial for highlighting optimal trading points based on volume dynamics.

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Improved method for series min/max calculation

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New Features:
Price Comparison Period Customization: Added an adjustable price comparison period for enhanced oscillator adaptability, allowing customization between 1 to 4 bars.

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Updated: Added dynamic threshold lines