Klinger Oscillator KVO MT4 Indicator by Stephen Klinger

KVO MQ4 Indicator – This oscillator based on turnovers has been developed by Stephen Klinger.

Trading NOTES

DOWNLOAD these NON-REPAINT Tools For Making The Perfect Trade Entry (the best trading tools all traders MUST HAVE)
Use a demo account or a small live account first to practice this trading system

The oscillator is calculated in seven steps:

The average typical price is calculated – (H+L+C)/3
If the current typical price is greater than the average typical price of the previous bar, the turnover of the current bar gets a “plus” sign
If the current typical price is less than the average typical price of the previous bar, the turnover of the current bar gets a “minus” sign
A 34-period EMA of the turnover obtained in steps 2 or 3 is calculated
A 55-period EMA of the turnover obtained in steps 2 or 3 is calculated
The 34-period EMA is subtracted from the 55-period EMA; the result is plotted on the chart as a histogram
The EMA of the difference obtained in step 6 is calculated and plotted on the chart