Klinger Volume Oscillator
Stephen Klinger's oscillator turns each bar's volume into a signed "volume force": positive when the typical price rises, negative when it falls, scaled by how the bar's range compares with the running range of the current trend leg. The oscillator is a fast EMA minus a slow EMA of that force, with a signal line. It aims to show whether money is flowing in or out ahead of price.
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How to use it
KVO crossing its signal in the direction of the price trend is the classic entry trigger; divergences between KVO and price at swing points warn of exhaustion. The histogram (KVO - signal) shows acceleration. Defaults 34 / 55 / 13 are Klinger's. Concept: Stephen J. Klinger, "Identifying Trends With Volume Analysis", Stocks & Commodities (Dec 1997).
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Back-tests and forward tests are simulations; past results do not predict future ones. Nothing here is financial advice. Trading carries a high risk of loss.