VFO – indicator for MetaTrader 5

Indicator VFO (Volume Flow Oscillator) is based on standard indicator OBV (On Balance Volume). It was described in the Technical Analysis of Stocks & Commodities magazine in June, 2004.

Its values above zero are bullish and indicate accumulating, while those below zero indicate distributing.

Divergences between the price and the indicator values may indicate a forthcoming change in the trend.

The indicator has four configured parameters:

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  • Period – calculation period;
  • Dev Coefficient – standard deviation coefficient;
  • Vol Coefficient – yesterday’s volume impact factor;
  • Smoothing period – smoothing period.

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