Volume Zone Oscillator
The Volume Zone Oscillator (VZO) was developed by Walid Khalil and David Steckler. It is based on an analysis of price action and volume value.
1. Overbought/Oversold. Open sell order if indicator value is above than 40, and open buy order then it is below than -40.2. Trend. If indicator crosses zero line form above/below then the market is bearish/bullish.