Volume Oscillator: the percent gap between a 5 and 10-bar EMA of volume, around a zero line.
Overview
The Volume Oscillator shows whether short-term volume is above or below a slightly longer average, in its own pane.
It is green above zero and red below.
How it works
Volume Oscillator = (EMA(volume, 5) - EMA(volume, 10)) / EMA(volume, 10) x 100.
Both lengths can be changed. Because it is a percent, readings can be compared across symbols.
How to use it
- Some traders watch a rise above zero during a breakout as a sign of rising interest.
- Use falling readings in a trend as a sign of fading activity.
- Compare it with price swings to see which moves came on high volume.
- Use longer lengths for a smoother view.
- Watch for readings that stay below zero in a quiet range as a sign of low interest.
These are ways some traders read it, for learning. They are not trade signals.
Settings
| Setting | Default |
|---|---|
| Settings | |
| Fast LengthLength of the fast EMA of volume. | 5 |
| Slow LengthLength of the slow EMA of volume. | 10 |
| Style | |
| Above ZeroColor of the line and fill while it holds above zero — volume expanding. | #089981 |
| Below ZeroColor of the line and fill while it holds below zero — volume contracting. | #f23645 |
Alerts
You can alert on its line crossing a value or the candle close (from the chart's + menu); checked while ZoroCharts is open.
Notes and limits
- It needs volume data; on symbols without volume it shows nothing useful.
- It shows how active trading is, not whether it is buying or selling.
Education only. Not financial advice. Indicators mark what happened on the chart; they do not predict what price will do. Trading futures, forex, crypto and other markets carries a high level of risk and may not be suitable for everyone.