The VZO Moving Average line is drawn in black. The original indicator did not include the VZO MA.
The Swordfish indicator can be downloaded here: The first code file includes a label X and audio alert that will sound when the VZO crosses down through the -40 level or up through the +40 level. The second script code file does not include the alert.
Create the Volume Zone Oscillator on your Swordfish by following the instructions below: Follow the detailed instructions for the Custom Indicator Installation Example if you are unsure of how to add an indicator or watch our YouTube video.
Create a new custom FML script like the one shown below. Mine is named: CS_VZO Remember that Swordfish FML does not allow spaces or many other characters in the name. Stick to alphanumerics and underscores.
VZO uses 2 parameters that have to be added manually when you create the script:
CS_VZO Volume Zone Oscillator
Name MAp MApV
Default 14 14
Minimum 2 2
Maximum 200 200
Type Double Double
MAp MApV
EMA period used by the VZO calculation. MA period used when calculating the MA of the VZO.
The sample below shows CS_VZO No Alert added to a new chart area on a 15 minute chart on the 15th and 16th of April 2013.
