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Klinger Oscillator
Topic URL:https://www.TradeStation.com/Discussions/Topic.aspx?Topic_ID=26605
Printed on:05/25/2009 18:48:50
Topic:
Topic author:Wall
Subject:Klinger Oscillator
Posted on:05/19/2004 11:36:39
Message:
Published by Stephen Klinger:
(TS does have a Volume Oscillator in its library.)
The Dec 1997 issue of Tech Analysis of Stocks and Commodities published the Klinger Oscillator in the December Traders’ Tips. This is the cut and paste
explanation:
In "Identifying trends with volume analysis" in this issue, Stephen Klinger gives a new approach for using volume. The TradeStation Traders' Tip this month is
based on the volume oscillator (KVO) presented in the article. For TradeStation and SuperCharts, we'll call the indicator Volume Osc (not the one that we have
in the TS library). This indicator can plot both the short-term and long-term versions of the oscillator.
The indicator uses a total of four inputs: FastX determines the length of the faster (shorter) exponential moving average of the volume force; SlowX determines
the length of the slower (longer) exponential moving average of the volume force; Trigger determines the length of the exponential moving average used to
smooth the KVO line; and Smooth determines the amount of smoothing of the KVO and trigger lines using a summation of the values. The Smooth input allows
for the generation of smoothed plot lines for longer-term analysis. If the Smooth input is set to 1 or zero, no smoothing will be in effect.
The process of developing this indicator begins with the creation of two functions, Vforce and KVO. These two functions basically provide supporting
calculations, which will allow the oscillator values to be easily referenced from other custom studies. The two functions should be created in the order
presented below, using their assigned names.
The Klinger Oscillator is a construct which is intended to illustrate when price changes are confirmed by volume. The price is expected to follow the Klinger
Oscillator if there is a divergence between the price and the indicator.
The Klinger Oscillator computation involves constructing a parameter called the 'Volume Force' which combines close, high, low, and volume into a single
indicator. The Klinger Oscillator is then created as a fast exponential moving average of the Volume Force minus a slow exponential moving average of the
Volume Force. The KO takes two input parameters: the periods for the fast and slow moving averages, respectively.
See a picture of Bearish Divergence at this site:
http://www.stockworm.com/help/manual/klinger-oscillator.html
This is an explanation from Prohet.net:
http://www.prophet.net/learn/taglossary.jsp?index=K
They show the Klinger Oscillator and they have also changed it to a Klinger Histogram which essentially levels the reference line of the Klinger Volume
Oscillator to zero.
The KO is derived from three types of data: the high-low price range, volume, and accumulation/distribution. Price range is a measure of movement and the
force behind that movement is volume. Accumulation is when the sum of today's [high]+[low]+[close] is greater than yesterday's. Distribution is when today's
sum is less than the yesterday's. When the sums are equal, the existing trend is maintained.
Volume produces continuous intraday changes in price as it reflects buying and selling pressure. The KO quantifies this difference between the number of
shares being accumulated and distributed each day as "volume force." A rising volume force should accompany an uptrend. It should then gradually contract
over time during the latter stages of the uptrend and the early stages of the following downtrend. This should be followed by a rising volume force reflecting
some accumulation before a bottom develops.
By converting the volume force into an oscillator representing the difference between a 34-period and 55-period exponential moving average with a 13-period
trigger, the force of volume into and out of a security can be tracked. Comparing this force to price action can help identify divergences at tops and bottoms.
The KO works well for timing trades in the direction of the trend but can be less effective when going against a trend. However, when the KO diverges from
the underlying price action, the observed trend may be losing momentum and nearing its completion.
Klinger notes the most important signal occurs when the KO diverges with the underlying price action, especially on new highs or new lows in
overbought/oversold territory. A stock achieving a new high or low for a cycle with the KO failing to confirm this shows a trend that may be losing momentum
and is nearing completion.
If the price is in an uptrend (above an 89-day exponential moving average), buy when the KO drops to unusually low levels below zero, turns up, and crosses
its trigger line. If the price is in a downtrend (i.e., below an 89-day exponential moving average), sell when the KO rises to unusually high levels above zero,
turns down, and crosses its trigger line.
This is from the educational section of Paritech:
http://www.paritech.com/paritech-site/education/technical/indicators/strength/klinger.asp
Developed by Stephen J. Klinger to help in both short- and long-term analysis, the Klinger Oscillator measures trends of money flows based upon volume.
The KO is derived from three types of data: the high-low price range, volume, and accumulation/distribution. Price range is a measure of movement and the
force behind that movement is volume. Accumulation is when the sum of today's [high]+[low]+[close] is greater than yesterday's. Distribution is when today's
sum is less than the yesterday's. When the sums are equal, the existing trend is maintained.
Volume produces continuous intraday changes in price as it reflects buying and selling pressure. The KO quantifies this difference between the number of
shares being accumulated and distributed each day as "volume force." A rising volume force should accompany an uptrend. It should then gradually contract
By converting the volume force into an oscillator representing the difference between a 34-period and 55-period exponential moving average with a 13-period
trigger, the force of volume into and out of a security can be tracked. Comparing this force to price action can help identify divergences at tops and bottoms.
The KO works well for timing trades in the direction of the trend but can be less effective when going against a trend. However, when the KO diverges from
the underlying price action, the observed trend may be losing momentum and nearing its completion.
Klinger notes the most important signal occurs when the KO diverges with the underlying price action, especially on new highs or new lows in
overbought/oversold territory. A stock achieving a new high or low for a cycle with the KO failing to confirm this shows a trend that may be losing momentum
and is nearing completion.
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If the price is in an uptrend (above an 89-day exponential moving average), buy when the KO drops to unusually low levels below zero, turns up, and crosses
its trigger line. If the price is in a downtrend (i.e., below an 89-day exponential moving average), sell when the KO rises to unusually high levels above zero,
turns down, and crosses its trigger line.
The Klinger Oscillator (KO) was developed by Stephen J. Klinger. Learning from prior research on volume by such well-known technicians as Joseph
Granville, Larry Williams, and Marc Chaikin, Mr. Klinger set out to develop a volume-based indicator to help in both short- and long-term analysis.
The KO was developed with two seemingly opposite goals in mind: to be sensitive enough to signal short-term tops and bottoms, yet accurate enough to reflect
the long-term flow of money into and out of a security.
The KO is based on the following tenets:
• Price range (i.e. High - Low) is a measure of movement and volume is the force behind the movement. The sum of High + Low + Close defines a trend.
Accumulation occurs when today's sum is greater than the previous day's. Conversely, distribution occurs when today's sum is less than the previous day's.
When the sums are equal, the existing trend is maintained.
• Volume produces continuous intra-day changes in price reflecting buying and selling pressure. The KO quantifies the difference between the number of
shares being accumulated and distributed each day as "volume force". A strong, rising volume force should accompany an uptrend and then gradually contract
• By converting the volume force into an oscillator representing the difference between a 34-period and 55-period exponential moving average with a
13-period trigger, the force of volume into and out of a security can easily be tracked. Comparing this force to price action can help identify divergences at
tops and bottoms.
Interpretation
Mr. Klinger recommends the following guidelines for using the KO:
1. The most reliable signals occur in the direction of the prevailing trend. Strict stop guidelines (i.e., failure to penetrate the zero line or a violation of the trigger
line) should remain in force.
2. The most important signal occurs when the KO diverges with the underlying price action, especially on new highs or new lows in overbought/oversold
territory. For example, when a stock makes a new high or low for a cycle and the KO fails to confirm this, the trend may be losing momentum and nearing
completion.
3. If the price is in an uptrend (i.e., above an 89-day exponential moving average), buy when the KO drops to unusually low levels below zero, turns up, and
crosses its trigger line. If the price is in a downtrend (i.e., below an 89-day exponential moving average), sell when the KO rises to unusually high levels above
zero, turns down, and crosses its trigger line.
While the KO works well for timing trades in the direction of the trend, it is less effective against the trend. This can create problems for the trader trying to
"scalp" a trade against the prevailing trend. However, when the KO is used in conjunction with other technical indicators, better results can be achieved.
William's %R is recommended for confirming an overbought/oversold price condition and Gerald Appel's MACD is recommended for confirming the
short-term direction of price.
Tip:
Stephen Klinger suggests the following formula for viewing the cumulative flow of money into and out of a security:
cum(kvo())
Plot a 13-period moving average of the formula as a trigger line for entering buy and sell trades.
Martin Pring classifies this as an “Advanced” momentum indicators and classifies it with the Directional Movement System, Parabolic, Commodity Selection
Index, Chaikin Money Flow, Trix, Demand Index, Herrick Payoff, Volume Oscillator, Volume Rate of Change, Linear Regression, Indicator and Slope,
Chaunde Momentum Oscillator (CMO), Dynamic Momentum Indicator, Relative Volatility Indicator, Relative Momentum Index, R-squared Price Projection
Bands and Oscillator, Inertia Forecast Oscillator, Qstick, and Aroon.
http://www.pring.com/
Anyone have experience with this Oscillator?Attachment:DATA/20040519113552KLINGER OSCILLATOR.ELD 3869 bytes
Replies:
Reply author:Wall
Replied on:05/19/2004 11:38:29
Message:
Type: Function, Name: VForce
Vars: TSum(0), Trend(0), DM(0), CM(0);
TSum = High + Low + Close;
IF TSum > TSum[1] Then
Trend = 1
Else
Trend = -1;
IF Trend = Trend[1] Then
CM = CM + Range
Else
CM = Range + Range[1];
IF CM <> 0 Then
VForce = Volume * AbsValue(2 * (DM/CM) -1) * Trend * 100;
Type: Function, Name: KVO
Inputs:
FastX(Numeric),
SlowX(Numeric);
Vars:
FXAvg(0),
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SXAvg(0);
FXAvg = XAverage(VForce, FastX);
SXAvg = XAverage(VForce, SlowX);
KVO = FXAvg - SXAvg;
Once the two functions have been created and verified, the indicator can then be created. The indicator should be scaled to "screen."
Type: Indicator, Name: Klinger Volume Oscillator
Inputs:
FastX(34),
SlowX(55),
TrigLen(13),
Smooth(1);
Vars:
Trigger(0);
Trigger = XAverage(KVO(FastX, SlowX), TrigLen);
IF Smooth <= 1 Then Begin
Plot1(KVO(FastX, SlowX), "KVO");
Plot2(Trigger, "KVO Trigger");
End Else Begin
Plot1(Summation(KVO(FastX, SlowX), Smooth), "KVO");
Plot2(Summation(Trigger, Smooth), "KVO Trigger");
End;
Plot3(0, "Zero");
IF Plot1 Crosses Above Plot2 OR Plot1 Crosses Below Plot2 OR
Plot2 Crosses Above Plot3 OR Plot2 Crosses Below Plot3 Then
Alert = True;
Reply author:ralphp
Replied on:05/19/2004 19:48:18
Message:
It appears that there is an error in the VForce function. The DM value will always be zero since it is initialized in the variable declaration, but never modified
before it is used to calculate the VForce.
I believe you need the following line inserted before the VForce calculation:
DM = High - Low;
Reply author:Radar
Replied on:05/19/2004 20:19:01
Message:
Wall,
The VForce Function has a Variable DM(0), what is this variable? I don't see how
it will ever change. Can you explain?
Thanks
Radar
Reply author:Wall
Replied on:05/19/2004 20:41:48
Message:
Attachment:DATA/20040519203710Showing Klinger Volume Oscillator.zip 44975 bytes
Hi Radar: The Var: DM (0); is not used at the present.
Hi Ralphp: enclosed is a Zipped chart of a Bitmap file showing that the Klinger Volume Oscillator as the ELD above is written seems to be functional on my
chart. I tried to send the picture as a Bitmap, JPEg and GIF files directly and all were too big. Hope that you can open the Zip file.
Thanks.
I just wondered if anyone is using this oscillator. I came across it a few times, and on one site, with reference to the use of Darvas Boxes, it was one of 6
indicators that was used as a go for and entry.
Reply author:ralphp
Replied on:05/20/2004 10:48:35
Message:
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I am not saying it will not function. It gives a result. But is it the correct one. If you read the Stocks and Commodities article it plainly describes what Dm is
supposed to be. They show the results in an Excel file. You may be getting an indicator to draw, but I argue it is not correct in that it is miscalculating the
VForce.
Reply author:Wall
Replied on:05/20/2004 11:23:56
Message:
Possibly.
This is the Math as published by them for Stephen Klinger. The ELS translator for the code was Gaston Sanchez who worked for TradeStation known then as
Omega Research.
Perhaps you could rework the V Force Function?
It is interesting, that when you put this Volume Oscillator on a chart, together with the actual Volume Oscillator as supplied by TS, that there is almost no
correlation - that said, the concept of use as described above is different - "Identifying a Trend with Volume Analysis".
Reply author:ssmike123
Replied on:12/24/2004 20:56:55
Message:
Wall; interesing, but you have stoped fallowing this post!Please update us. Is there a way to reduce the jagedness of KO the ossilator? Is the indicator complet
the way you have it in the ELD file?
Shawn
Reply author:rdph
Replied on:12/26/2004 12:50:16
Message:
Wall has done a great job coding the Klinger Volume Oscillator, but I believe a flaw exists in the calculation.
ralphp, I believe you are correct. As Radar points out the variable DM is not populated (it is a daily range for the current day; High - Low), and thus the
formula for VForce will not caculate as Klinger intended.
The formula for VForce is: VForce = Volume * AbsValue(2 * (DM / CM) -1) * Trend * .100
If DM is set to zero with each calculation, it renders the ratio between the daily range and the sum of ranges in the direction of the current trend (CM)
ineffectual.
To change this one must add a line in the code for the VForce function (at some point before the last line):
DM = High - Low;
I will add an eld here with this one line added in the VForce function, but please note that Wall has done all of the work. I changed the names to protect the
original Wall version.
Attachment:DATA/20041226124826KLINGERVOLOSC.ELD 3935 bytes
Reply author:Trend39
Replied on:12/29/2004 04:53:35
Message:
Wall and rdph, this is fantastic! I've tried various "volume" indicators in the past
but could never get them to work for my needs. This one is new to me and looks very promising,
being a "volume / trend" indicator.
I have a hard time dealing with huge numbers that are plotted using this code.
And I personally don't like the midlines at zero. My eye is so trained to 50 as the midline,
that I made the appropriate changes using rdph's version, that gives the following result below.
The intent of the indicator is still present, just in a more visual form that I like.
(I'm one of those right brained guys who REALLY appreciates
the math and calculations from you left brainers )
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Quoted from above:
"The KO works well for timing trades in the direction of the trend
but can be less effective when going against a trend.
However, when the KO diverges from the underlying price action,
the observed trend may be losing momentum and nearing its completion."
VForce_rd Function:
VForce_rd = Volume * AbsValue(2 * (DM/CM) -1) * Trend * 0.01; {original version had * 100.
Made smaller to decrease the plotted size of volume}
KVO_rd Function:
KVO_rd = (FXAvg - SXAvg) + 50; {original did not have +50, this brings midline from Zero to 50}
Indicator:
inputs: UpColor(Green), DwnColor(Magenta),
{Color Change: placed after plots defined}
If Plot1>Plot1[1] then begin
plot1[1](Plot1[1],"KVO",upcolor);
plot1(Plot1,"KVO",upcolor);
end else begin
plot1[1](Plot1[1],"KVO",dwncolor);
plot1(Plot1,"KVO",dwncolor);
end;
Plot3(50, "Midline"); {orizinal version midline was Zero}
*******
If I've done something to the numbers that are drastically
wrong for trading purposes, let me know. ( like the *0.01 ).
Reply author:SHEP
Replied on:01/15/2005 11:13:57
Message:
This looks very promising, thanks to Wall and rdph and Trend39.
I am trying to find volume spikes and crescendos that anticipate price reversals daily/intraday. Divergences vs w/trend signals on indicator and RadarScreen ?
Magnitude and direction of volume (up vs down volume ratio), by price mommentum and volatility. How could this indicator be modified ? Has anyone
developed a strategy for this oscillator ?
Reply author:OUFAN
Replied on:01/15/2005 15:39:00
Message:
This is the volume based indicator that I use. I wrote it
to work like an osc. It works well for intraday also.
Never tried it on tick charts though.
OUFan.
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Replied on:01/15/2005 15:48:15
Message:
SHEP:
I've used this indicator for two weeks. Be sure to read Walls first post to understand its nuances.
Another indicator I like is Goslin's trigger. Both are very close in behavior. However, sometimes
Goslin triggers at a time when you see no Klinger "directional" confirmation. Telling you to stay
out of the trade, or fade a short into the divergent spike.
I like to simplify things and not watch
to many of the same type indicators. So below is the code to combine Klinger & Goslin.
It plots the KlingerOsc rd version.
But it goes one step further and paints the indicator a brigher color
at times where the Goslin Trigger is firing.
It has been a great addition.
26/05/2009 8:49 AM
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Please use rdph's download above.
Make the following Function change noted in blue
VForce_rd Function:
VForce_rd = Volume * AbsValue(2 * (DM/CM) -1) * Trend * 0.01; {original version had * 100.
Made smaller to decrease the plotted size of volume}
KVO-rd Function: My previous post also added "50"
to this function. I have since decided against that.
So my midline is now zero and the function is rd's original.
UPDATE:
If you just want the download, with all the changes, and this indicator, as shown plotted, just click this download:
Attachment:DATA/20050116212419KLINGER GOSLIN.ELD 6022 bytes
Klinger Goslin
Reply author:jimbob
Replied on:01/15/2005 17:00:18
Message:
quote:
Has anyone developed a strategy for this oscillator ?
SHEP,
here's one for going long:
Reply author:SHEP
Replied on:01/16/2005 09:26:47
Message:
Thanks Trend39. When I put Goslin version on intraday it doesn't plot correctly, daily is fine. (v8) Is there something in settings/code ?
Reply author:SHEP
Replied on:01/16/2005 11:36:41
Message:
Change Plot3(0, "Midline") to Plot3(50, "Midline") fixes indicator.
So basically price confirms volume with Goslin Trigger. The indicator is then a volume based trend oscillator. Any suggestions on how to use it to measure
increasing prices on lower volume, divergence/reversal. Or would something else give better signal ?
Will read Chick Goslin's book. Thanks for response.
Reply author:rdph
Replied on:01/16/2005 21:01:20
Message:
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Thank you, Trend39, for this very interesting indicator. I have altered the functions as you have suggested. I will leave the previous ELD intact for those that
desire a wider scale and a zero line center.
For others, and those interested in your Klinger Goslin, please use this ELD.
Attachment:DATA/20050116205957KLINGERGOSLIN.ELD 5879 bytes
Shep's change was also used here.
Replied on:01/16/2005 21:24:00
Message:
Shep and Rd,
Here is the Klinger Goslin download as seen in my picture above:
The midline is Zero, as in the original. And has the smaller scale.
I updated my post above with it.
Reply author:SHEP
Replied on:01/16/2005 23:06:29
Message:
Thanks Trend39 for your generous response to my questions. Works fine. Do you use any other indicators on same chart (ie. %R or MACD) ? What have you
found works best divergences/reversals, trend continuation...using this indicator ?
Reply author:dillon
Replied on:01/18/2005 12:10:38
Message:
Thanks to everyone for sharing the information and code. Interesting concept. I have one comment on the VForce function code:
Should "Volume" not be replaced with "Ticks" for intraday charts? In reading Wall's original post it looks like the total number of contracts/shares should be
used in the calculation. I have modified the last line of my VForce function as follows to use Ticks (total contracts) for intraday charts.
{VForce function last line}
If BarType < 2 then VForce = Ticks * AbsValue(2 * (DM/CM) -1) * Trend * 0.01 else
VForce = Volume * AbsValue(2 * (DM/CM) -1) * Trend * 0.01;
Reply author:TheRumpledOne
Replied on:07/23/2005 14:16:21
Message:
quote:
Originally posted by Trend39
Shep and Rd,
Here is the Klinger Goslin download as seen in my picture above:
The midline is Zero, as in the original. And has the smaller scale.
I updated my post above with it.
I modified your code for use in my SLOT MACHINE RadarScreen.
Would you please be kind enough to check it?
I am not familiar with Klinger Goslin to know if I got it right.
26/05/2009 8:49 AM
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THANKING YOU IN ADVANCE
Attachment:DATA/20050723141611SMAA_INDICATOR_KGO.ELD 7035 bytes
Reply author:rdph
Replied on:07/23/2005 16:42:37
Message:
TRO, the formulas appear to be correct, however, I am unable to check the plots because I do not have RS.
Reply author:TheRumpledOne
Replied on:07/23/2005 17:04:29
Message:
Thank you for taking the time to review.
Here's a shot of my 1 Minute SLOT MACHINE RADAR:
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Let me know what interval/stocks you prefer and I can post them for you.
MAY ALL YOUR FILLS BE COMPLETE.
Reply author:GrayBear3637
Replied on:07/29/2005 15:04:04
Message:
I had an error in verifying jimbob’s buy strategy. Changing his function “KVO” to Trend39’s function “KVO_RD” got the strategy to verify and apparently
workes. Here is the performance I get using a 1,000 tick chart on Ten-Year Notes (@TY):This page uses frames, but your browser doesn't support them.
I had an error in verifying jimbob’s buy strategy. Changing his function “KVO” to Trend39’s function “KVO_RD” got the strategy to verify and apparently
workes. Here is the performance I get using a 1,000 tick chart on Ten-Year Notes (@TY):
TradeStation Performance Summary
All Trades Long Trades Short Trades
Total Net Profit $2,834.38 $2,834.38 $0.00
Gross Profit $5,890.63 $5,890.63 $0.00
Gross Loss ($3,056.25) ($3,056.25) $0.00
Profit Factor 1.93 1.93 n/a
Open Position P/L $0.00 $0.00 $0.00
Select Total Net Profit $2,834.38 $2,834.38 $0.00
Select Gross Profit $5,890.63 $5,890.63 $0.00
Select Gross Loss ($3,056.25) ($3,056.25) $0.00
Select Profit Factor 1.93 1.93 n/a
Adjusted Total Net Profit $1,098.26 $1,098.26 $0.00
Adjusted Gross Profit $4,712.50 $4,712.50 $0.00
Adjusted Gross Loss ($3,614.24) ($3,614.24) $0.00
Adjusted Profit Factor 1.3 1.3 n/a
Total Number of Trades 55 55 0
Percent Profitable 45.45% 45.45% 0.00%
Winning Trades 25 25 0
Losing Trades 30 30 0
Even Trades 0 0 0
Avg. Trade Net Profit $51.53 $51.53 $0.00
Avg. Winning Trade $235.63 $235.63 $0.00
Avg. Losing Trade ($101.88) ($101.88) $0.00
Ratio Avg. Win:Avg. Loss 2.31 2.31 n/a
Largest Winning Trade $635.63 $635.63 $0.00
Largest Losing Trade ($239.38) ($239.38) $0.00
Largest Winner as % of Gross Profit 10.79% 10.79% n/a
Largest Loser as % of Gross Loss 7.83% 7.83% n/a
Net Profit as % of Largest Loss 1184.07% 1184.07% n/a
Select Net Profit as % of Largest Loss 1184.07% 1184.07% n/a
Adjusted Net Profit as % of Largest Loss 458.80% 458.80% n/a
Max. Consecutive Winning Trades 4 4 0
Max. Consecutive Losing Trades 10 10 0
Avg. Bars in Total Trades 9.18 9.18 0
Avg. Bars in Winning Trades 13.16 13.16 0
Avg. Bars in Losing Trades 5.87 5.87 0
Avg. Bars in Even Trades 0 0 0
Max. Shares/Contracts Held 1 1 0
Total Shares/Contracts Held 55 55 0
Account Size Required $1,085.63 $1,085.63 $0.00
Total Slippage $0.00 $0.00 $0.00
Total Commission $275.00 $275.00 $0.00
Return on Initial Capital 279.80%
Annual Rate of Return 574.05%
Buy & Hold Return -0.20%
Return on Account 261.08%
Avg. Monthly Return $944.79
Std. Deviation of Monthly Return $1,091.10
Return Retracement Ratio 65.07
RINA Index 59.13
Sharpe Ratio n/a
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K-Ratio n/a
Trading Period 2 Mths, 23 Dys, 21 Hrs, 49 Mins
Percent of Time in the Market 44.57%
Time in the Market 1 Mth, 6 Dys, 20 Hrs, 10 Mins
Longest Flat Period 4 Dys, 18 Hrs, 36 Mins
Max. Equity Run-up $4,138.13
Date of Max. Equity Run-up 7/7/2005 5:38
Max. Equity Run-up as % of Initial Capital 408.50%
Max. Drawdown (Intra-day Peak to Valley)
Value ($1,450.00) ($1,450.00) $0.00
Date 6/16/2005 12:01
as % of Initial Capital 143.14% 143.14% 0.00%
Net Profit as % of Drawdown 195.47% 195.47% n/a
Select Net Profit as % of Drawdown 195.47% 195.47% n/a
Adjusted Net Profit as % of Drawdown 75.74% 75.74% n/a
Max. Drawdown (Trade Close to Trade Close)
Value ($1,085.63) ($1,085.63) $0.00
Date 6/16/2005 11:31
as % of Initial Capital 107.17% 107.17% 0.00%
Net Profit as % of Drawdown 261.08% 261.08% n/a
Select Net Profit as % of Drawdown 261.08% 261.08% n/a
Adjusted Net Profit as % of Drawdown 101.16% 101.16% n/a
Max. Trade Drawdown ($312.50) ($312.50) $0.00
All Trades
Total Net Profit $2,834.38 Profit Factor 1.93
Gross Profit $5,890.63 Gross Loss ($3,056.25)
Open Position Profit/Loss $0.00
Select Total Net Profit $2,834.38 Select Profit Factor 1.93
Select Gross Profit $5,890.63 Select Gross Loss ($3,056.25)
Adjusted Total Net Profit $1,098.26 Adjusted Profit Factor 1.3
Adjusted Gross Profit $4,712.50 Adjusted Gross Loss ($3,614.24)
Total Number of Trades 55 Percent Profitable 45.45%
Winning Trades 25 Losing Trades 30
Even Trades 0
Avg. Trade Net Profit $51.53 Ratio Avg. Win:Avg. Loss 2.31
Avg. Winning Trade $235.63 Avg. Losing Trade ($101.88)
Largest Winning Trade $635.63 Largest Losing Trade ($239.38)
Largest Winner as % of Gross Profit 10.79% Largest Loser as % of Gross Loss 7.83%
Net Profit as % of Largest Loss 1184.07%
Slct. Net Profit as % of Largest Loss 1184.07% Adj. Net Profit as % of Largest Loss 458.80%
Max. Consecutive Winning Trades 4 Max. Consecutive Losing Trades 10
Avg. Bars in Winning Trades 13.16 Avg. Bars in Losing Trades 5.87
Avg. Bars in Total Trades 9.18
Max. Shares/Contracts Held 1 Account Size Required $1,085.63
Total Commission $275.00 Total Slippage $0.00
Return on Initial Capital 279.80% Annual Rate of Return 574.05%
Buy and Hold Return -0.20% Return on Account 261.08%
Avg. Monthly Return $944.79 Std. Deviation of Monthly Return $1,091.10
Return Retracement Ratio 65.07 RINA Index 59.13
Sharpe Ratio n/a K-Ratio n/a
Trading Period 2 Mths, 23 Dys, 21 Hrs, 49 Mins Percent of Time in the Market 44.57%
Time in the Market 1 Mth, 6 Dys, 20 Hrs, 10 Mins Longest Flat Period 4 Dys, 18 Hrs, 36 Mins
Max. Equity Run-up $4,138.13
Date of Max. E. Run-up 7/7/2005 5:38 Max. E. Run-up as % of Initial Capital 408.50%
Max. Drawdown (Intra-day Peak to Valley) Max. Drawdown (Trade Close to Trade Close)
Value ($1,450.00) Value ($1,085.63)
Date 6/16/2005 12:01 Date 6/16/2005 11:31
as % of Initial Capital 143.14% as % of Initial Capital 107.17%
Net Profit as % of Drawdown 195.47% Net Profit as % of Drawdown 261.08%
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Slct. Net Profit as % of Drawdown 195.47% Slct. Net Profit as % of Drawdown 261.08%
Adj. Net Prof as % of Drawdown 75.74% Adj. Net Profit as % of Drawdown 101.16%
Max. Trade Drawdown ($312.50)
Long Trades
Total Net Profit $2,834.38 Profit Factor 1.93
Gross Profit $5,890.63 Gross Loss ($3,056.25)
Select Total Net Profit $2,834.38 Select Profit Factor 1.93
Select Gross Profit $5,890.63 Select Gross Loss ($3,056.25)
Adjusted Total Net Profit $1,098.26 Adjusted Profit Factor 1.3
Adjusted Gross Profit $4,712.50 Adjusted Gross Loss ($3,614.24)
Even Trades 0
Avg. Trade Net Profit $51.53 Ratio Avg. Win:Avg. Loss 2.31
Avg. Winning Trade $235.63 Avg. Losing Trade ($101.88)
Largest Winning Trade $635.63 Largest Losing Trade ($239.38)
Largest Winner as % of Gross Profit 10.79% Largest Loser as % of Gross Loss 7.83%
Avg. Bars in Winning Trades 13.16 Avg. Bars in Losing Trades 5.87
Avg. Bars in Total Trades 9.18
Max. Shares/Contracts Held 1 Account Size Required $1,085.63
Total Commission $275.00 Total Slippage $0.00
Net Profit as % of Largest Loss 1184.07%
Slct. Net Profit as % of Largest Loss 1184.07% Adj. Net Profit as % of Largest Loss 458.80%
Value ($1,450.00) Value ($1,085.63)
Net Profit as % of Drawdown 195.47% Net Profit as % of Drawdown 261.08%
Slct. Net Profit as % of Drawdown 195.47% Slct. Net Profit as % of Drawdown 261.08%
Adj. Net Prof as % of Drawdown 75.74% Adj. Net Profit as % of Drawdown 261.08%
Max. Trade Drawdown ($312.50)
Short Trades
Total Net Profit $0.00 Profit Factor n/a
Gross Profit $0.00 Gross Loss $0.00
Select Total Net Profit $0.00 Select Profit Factor n/a
Select Gross Profit $0.00 Select Gross Loss $0.00
Adjusted Total Net Profit $0.00 Adjusted Profit Factor n/a
Adjusted Gross Profit $0.00 Adjusted Gross Loss $0.00
Even Trades 0
Avg. Trade Net Proft $0.00 Ratio Avg. Win:Avg. Loss n/a
Avg. Winning Trade $0.00 Avg. Losing Trade $0.00
Largest Winning Trade $0.00 Largest Losing Trade $0.00
Largest Winner as % of Gross Profit n/a Largest Loser as % of Gross Loss 7.83%
Avg. Bars in Winning Trades 0 Avg. Bars in Losing Trades 0
Avg. Bars in Total Trades 0
Max. Shares/Contracts Held 0 Account Size Required $0.00
Total Slippage $0.00 Total Commission $0.00
Net Profit as % of Largest Loss n/a
Slct. Net Profit as % of Largest Loss n/a Adj. Net Profit as % of Largest Loss n/a
Value $0.00 Value $0.00
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Net Profit as % of Drawdown n/a Net Profit as % of Drawdown n/a
Slct. Net Profit as % of Drawdown n/a Slct. Net Profit as % of Drawdown n/a
Adj. Net Prof as % of Drawdown n/a Adj. Net Prof as % of Drawdown n/a
Max. Trade Drawdown $0.00
Replied on:08/28/2005 19:34:06
Message:
Can any one add a Volitility bands (keltner is good) around the final version of Trend39
Klinger Osc?
Thanks
Replied on:12/24/2005 23:55:13
Message:
see the 1/16/2005 download above. Makes $
Replied on:12/26/2005 14:48:51
Message:
quote:
Originally posted by Trend39
Sure thanks! I still wonder if keltner bands can be placed.
Shawn
Replied on:04/05/2006 00:58:00
Message:
Still one of my favorite indicators. Bump for the newbies.
Reply author:Camb
Replied on:04/05/2006 22:31:04
Message:
Trend39, thanks for bumping this thread. I spent most of the day adapting the basic indicator to work with 2 standard filters I use, one of which simply limits
entries to certain times of day. Based upon the preliminary results below, I believe this indicator has great promise as the basis of a strategy.
The results shown reflect optimizing on the first 6 months of data with the rest of the time being OOS. Commission, slippage, and back-testing resolution as
shown below.
PF: 1.69
Average Trade Net Profit: $82.08
Maximum Drawdown: $2,620.00
Trading Long only at this point. I'll be trying the Short side next to see if it produces comparable results.
Date range: 6/30/03 to 3/3/06
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Attachment:DATA/20060405221224KlingerOscStrat.GIF 47093 bytes
Attachment:DATA/20060405221239KlingerOscSettings.GIF 4578 bytes
Replied on:06/13/2006 19:54:12
Message:
You'll see the indicator worked great for shorting too!
Replied on:07/08/2006 21:10:07
Message:
Trend39 please post more charts with explanations as to how you use the Klinger Gosslin Osc.
Thx.
Has any one written a strategy for LONG & SHORT?
Reply author:OUFAN
Replied on:07/08/2006 23:26:10
Message:
ssmike123,
26/05/2009 8:49 AM
15 of 16
Trend39 is a doctor and he just a few months ago started his practice, so he hasn't had time recently to be on the forums much. It is really nice when he does
get to post charts, because he is a very smart and nice person. He has helped many on the forum, but his time is more limited now with his new practice.
I just wanted to tell you this in case you don't see a post from him for awhile on your request.
OUFan
Replied on:07/09/2006 03:59:57
Message:
Yes thanks OUFan, I have previously talked with him and he did tell me that he is setting up his practice. Still every now and then he visits!
Replied on:12/23/2006 20:51:08
Message:
Hi mike,
Look at the chart I posted on 1/15/05
Use my download ELD code posted on 1/16/05
This indicator is composed of two separate indicators:
Goslin trigger
Klinger Volume
The Klinger Volume has also has a smoothed trigger line, and a horitonal line.
Best volume indicator I've found. Works well finding divergence patterns. See
the 1/15/05 posting with picture.
Replied on:01/07/2007 21:14:07
Message:
I've made some updates to this indicator and moved
it to the Indicator Library.
https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=59409
Reply author:KJLake
Replied on:07/05/2007 17:19:52
Message:
I've added the same Klinger Gosslin and Klinger + ATR indicators to a daily chart and RadarScreen. Can anyone please explain to me why the "KVOsc",
"Kling Trig", "Klinger + ATR" and "Trigger" numbers in the daily chart are different from the "KVOsc", "Kling Trig", "Klinger + ATR" and "Trigger" numbers
in RadarScreen? I'm trying to code an alert in radar scrren to notify me when Klinger + ATR crosses above or below 0, but the results I'm getting in
RadarScreen do not match what I'm seeing in the daily chart. Thanks.
Reply author:Steve737
Replied on:09/10/2007 20:59:35
Message:
w/o further research, most of the time when there is a discreptancy between RS and chart is due to not enough bars in the RS.
suggest increasing max bar back in RS - several threads about this in forum - some with suggested rules of thumb for number of max bars back
i just increase until i get it to work, but that's just me
steve
Reply author:KJLake
Replied on:09/23/2007 19:57:02
Message:
Thanks Steve
Reply author:rdelrisco
Replied on:07/12/2008 17:01:07
Message:
Hi guys, this indicator seems to have potential. Is there any way to add to the code bollinger bands (I like to plot the indicator as dots) and make it look like the
macd bb indicator looks like? I tried to copy and play the code from the macd bb indicator to see if i could get the boll bands but was not able to.
Thanks in advance
Rick
Reply author:5TX6
Replied on:07/12/2008 17:09:11
Message:
Check the EL Library, https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=59409
26/05/2009 8:49 AM
16 of 16
Reply author:jreid
Replied on:12/14/2008 12:43:20
Message:
Hi Trend39, et. al,
Thank you for all of your work in posting the Klinger-Goslin indicator. It's been tremendously helpful to me as I am looking for ways to identify and capitalize
on price-volume divergence. There seem to be several components to this indicator and I'd like to make sure that I understand them correctly. The components
I've identified are as follows:
1) Zero-line: Whether Klinger fast and slow averages are above or below this line
2) Goslin trigger: Whether this occurs above or below the zero line and above or below slow average
3) Klinger averages: Whether fast avg is crossing above or below slow avg and whether these occur above or below zero line.
I understand that Klinger has stated that optimal entries occur at signals congruent with the primary trend. I wondered if you could expand on what you find to
be the strongest entry signals with information from this indicator (e.g. Goslin Buy trigger when fast Klinger avg is crossing over slow avg and zero line)? I've
built a strategy around this indicator but I think that I could vastly improve it if I understood the better points of entry.
Thank you again for all of your work on this.
Jay
Reply author:TradingDude
Replied on:12/14/2008 12:48:47
Message:
jreid, have you read Goslin's trading books?
TradingDude
Reply author:jreid
Replied on:12/14/2008 15:49:21
Message:
Tradingdude,
I have not. From the posts on TS and via the web, I understand portions of it, but probably have a lot more to learn. I'm more of a learning through practice
person, so am hoping to understand the trade signals and then review charts to broaden understanding.
Reply author:TradingDude
Replied on:12/14/2008 20:54:24
Message:
Goslin actually trades his methodology, unlike many authors that are just "writers". His last edition is practical. Worth studying IMHO. Can't design a bridge
without first learning structures from a "text"...
TradingDude
Reply author:alpha24
Replied on:02/27/2009 18:40:56
Message:
Back to page 1 with this . I have been trading the strategy form this indicator regularly - One thing that could add to it´s performance imo is measuring how
much the volume spikes on a crossover . Working with maybe a StdDev . The higher the volume difference the higher the trade size could be . Anyone willing
to work some more on this ?
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26/05/2009 8:49 AM

TradeStation Forum - Klinger Oscillator

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