Direct Answer
The Klinger Volume Oscillator turns each bar's volume into a signed volume force that depends on the trend of (High + Low + Close) and the bar's range, then compares a 34-period and a 55-period EMA of that force. Above zero indicates volume force has been net positive over the longer trend, and below zero net negative. It is a multi-step construction with several fixed lengths and a cumulative measurement that resets when the trend flips, so implementations differ slightly between platforms.
Klinger Volume Oscillator: Formula, Meaning, Signals, Examples and How to Use It
How Is Klinger Volume Oscillator Calculated?
The Klinger Volume Oscillator turns each bar's volume into a signed volume force that depends on the trend of (High + Low + Close) and the bar's range, then compares a 34-period and a 55-period EMA of that force.
Formula: VF = Volume x |2 x (dm/cm - 1)| x trend x 100; KVO = EMA34(VF) - EMA55(VF); signal = EMA13(KVO)
Inputs:
- Bar high, low and close
- Bar volume
- Trend sign: +1 if (H+L+C) rose from the prior bar, otherwise -1
- dm = High - Low, and cm = cumulative measurement of dm
- EMA lengths 34 and 55, signal length 13
Worked example. A bar with volume 100,000, range dm of 2, cumulative measurement cm of 5 and trend +1 has a volume force of 12,000,000. The inputs are illustrative numbers, not market data.
Reading it. Above zero indicates volume force has been net positive over the longer trend, and below zero net negative. Crossovers of KVO and its signal line, or divergences from price, are the usual reference points.
Limits. It is a multi-step construction with several fixed lengths and a cumulative measurement that resets when the trend flips, so implementations differ slightly between platforms. Volume force is a modeled quantity, not observed buying or selling.
What is Klinger Volume Oscillator?
The Klinger Volume Oscillator turns each bar's volume into a signed volume force that depends on the trend of (High + Low + Close) and the bar's range, then compares a 34-period and a 55-period EMA of that force.
How to use Klinger Volume Oscillator
Above zero indicates volume force has been net positive over the longer trend, and below zero net negative. Crossovers of KVO and its signal line, or divergences from price, are the usual reference points. A reading alone is never a buy or sell signal; it needs context from price structure, volume, volatility and the broader market regime.
Strengths
- Combining volume with the trend of the high-low-close sum and the range gives a signed measure that responds to both price direction and bar size.
- The two long EMAs of 34 and 55 periods filter out much short-term variation, so the line is smooth for a volume-based series.
- Reproducible when the formula and data convention are fixed.
Weaknesses and limitations
- The trend sign depends on a comparison of successive sums of high, low and close, so a one-tick difference flips the sign for the whole bar.
- The periods 34, 55 and 13 are Fibonacci-style conventions, so shorter or longer settings change the character and are not derived from data.
- Correlated indicators can create false confidence by repeating the same underlying information.
Editorial and risk note
This page is educational content, not individualized investment advice. It should not imply guaranteed prediction, accuracy or outperformance.
Frequently Asked Questions
Is Klinger Volume Oscillator a buy or sell signal?
No. Above zero indicates volume force has been net positive over the longer trend, and below zero net negative. It is a multi-step construction with several fixed lengths and a cumulative measurement that resets when the trend flips, so implementations differ slightly between platforms. A trade built on it still needs a trigger, an invalidation rule, a position size and realistic execution assumptions.
What is the best setting for Klinger Volume Oscillator?
Klinger Volume Oscillator takes these inputs: bar high, low and close; bar volume; trend sign: +1 if (H+L+C) rose from the prior bar, otherwise -1. There is no universal best setting for the tunable ones, so test them across instruments, regimes and out-of-sample periods and favor stable parameter regions over one historical winner.
Can Klinger Volume Oscillator be used by itself?
It is a multi-step construction with several fixed lengths and a cumulative measurement that resets when the trend flips, so implementations differ slightly between platforms. Volume force is a modeled quantity, not observed buying or selling. For that reason it is read next to measures of direction, participation, valuation, liquidity and risk, not alone.
Does Klinger Volume Oscillator work on every timeframe?
The calculation (VF = Volume x |2 x (dm/cm - 1)| x trend x 100; KVO = EMA34(VF) - EMA55(VF); signal = EMA13(KVO)) can be run on any bar size, but behavior is not portable: a reading on a five-minute chart describes a very different market window from the same reading on a daily chart. Validate the exact timeframe before relying on it.
Why does Klinger Volume Oscillator give false signals?
The trend sign depends on a comparison of successive sums of high, low and close, so a one-tick difference flips the sign for the whole bar. The periods 34, 55 and 13 are Fibonacci-style conventions, so shorter or longer settings change the character and are not derived from data. Lag, noise and regime changes add to this, because market participants react to new information after the reading is calculated.
How should Klinger Volume Oscillator be backtested?
Rebuild Klinger Volume Oscillator from bar high, low and close using point-in-time data, write the rules before testing, include delisted securities where relevant, model realistic fills and costs, reserve a validation sample and compare with a simpler baseline.