VZO

//
// @author LazyBear
//
// If you use this code in its original/modified form, do drop me a note.
//
study("Volume Zone Oscillator [LazyBear] updated by JustUncleL", shorttitle="VZO_LB")

length=input(20, title="MA Length")

dvol= high==low? 0.0 : sign(close-close[1])* (abs(open-close)/(high-low)) * volume
dvma=ema(dvol, length)
vma=ema( abs(dvol), length)
vzo=iff(vma != 0, 100 * dvma / vma,0)

hline(60, color=red,linestyle=dotted)
hline(40, color=gray,linestyle=dashed)
hline(20, color=gray,linestyle=dashed)
hline(0, color=black,linestyle=dotted)
hline(-20, color=gray,linestyle=dashed)
hline(-40, color=gray,linestyle=dashed)
hline(-60, color=green,linestyle=dotted)

plot(vzo, color=vzo>=0?lime:maroon, linewidth=2)