TFS: Volume Oscillator

TSF_VolOscAvg.efs  

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File Name: TSF_VolOscAvg.efs

Description:
TFS: Volume Oscillator

Formula Parameters:

• AvgLen : 7

Notes:
This is the second part of TFS trading strategy. The concept of this indicator is similar to that of On-Balance Volume indicator (OBV). It is calculated according to these rules:

• If Close > Open, Volume is positive
• If Close < Open, Volume is negative
• If Close = Open, Volume is neutral

Then you take the 7-day MA of the results.

Download File:
TSF_VolOscAvg.efs


EFS Code:

/*********************************
Provided By: 
eSignal (Copyright c eSignal), a division of Interactive Data Corporation. 2009. 
All rights reserved. 
This sample eSignal Formula Script (EFS) is for educational purposes only and may be modified and saved under a new file name. 
eSignal is not responsible for the functionality once modified. 
eSignal reserves the right to modify and overwrite this EFS file with each new release.
Description: 
    TFS: 
    Volume Oscillator 
Version: 1.0 05/28/2009 
Formula Parameters: 
    Default: AvgLen 7
    Notes: This is the second part of TFS trading strategy. 
The concept of this indicator is similar to that of On-Balance Volume indicator (OBV). 
It is calculated according to these rules:
    If Close > Open, Volume is positive 
    If Close < Open, Volume is negative 
    If Close = Open, Volume is neutral 
Then you take the 7-day MA of the results. **********************************/
var fpArray = new Array();
var bInit = false;

function preMain(){
	setStudyTitle("TFS: Volume Oscilator");
	setCursorLabelName("VolOsc", 0);
	setPlotType(PLOTTYPE_HISTOGRAM, 0);
	setDefaultBarFgColor(Color.blue, 0);
	addBand(0, PS_SOLID, 1, Color.red);
	var x = 0;
	fpArray[x] = new FunctionParameter("AvgLen", FunctionParameter.NUMBER);
	with(fpArray[x++]){
		setLowerLimit(1);
		setDefault(7);
	}
}
var xTFS_VolumeOsc = null;

function main(AvgLen){
	var nBarState = getBarState();
	var nTFS_VolumeOsc = 0;
	if (nBarState == BARSTATE_ALLBARS){
		if (AvgLen == null) AvgLen = 7;
	}
	if (bInit == false){
		xTFS_VolumeOsc = efsInternal("Calc_TFS_VolumeOsc", AvgLen);
		bInit = true;
	}
	nTFS_VolumeOsc = xTFS_VolumeOsc.getValue(0);
	if (nTFS_VolumeOsc == null) return;
	return nTFS_VolumeOsc;
}
var bSecondInit = false;
var xClose = null;
var xOpen = null;
var xVolume = null;

function Calc_TFS_VolumeOsc(AvgLen){
	var nRes = 0;
	var i = 0;
	var nVolAccum = 0;
	if (bSecondInit == false){
		xClose = close();
		xOpen = open();
		xVolume = volume();
		bSecondInit = true;
	}
	if (xClose.getValue(-AvgLen) == null) return;
	for (i = 0; i < AvgLen; i++){
		if (xClose.getValue(-i) > xOpen.getValue(-i)) nVolAccum += xVolume.getValue(-i);
		if (xClose.getValue(-i) < xOpen.getValue(-i)) nVolAccum -= xVolume.getValue(-i);
	}
	nRes = nVolAccum / AvgLen;
	return nRes;
}