PriceZoneOscillator

Function Name: PriceZoneOscillator

Tags: Oscillator

Category: Price

The formula for PZO depends on only one condition: If today's closing price is higher than yesterday's closing price, then the closing price will have a positive value (bullish); otherwise it will have a negative value (bearish). Like VZO, PZO has overbought and oversold levels. It is useful for identifying at which zone (bullish or bearish) price is positioned. PZO is useful in uptrends, downtrends, or sideways market conditions.

 

Source: Stocks & Commodities, June 2011: "Entering The Price Zone"

 

period
	Default Value: 14  |  Minimum: 2  |  Maximum: 9999
	Type: Numeric
ShowPZO
	Default Value: -1
	Type: Boolean
ShowLevels
	Default Value: -1
	Type: Boolean