Hi, I am trying to test the VME signal “E” through the SIGNAL TESTER and can not get a script to match the packaged VME indicator. I used the script “VME()” but it returns all signals both overbought and oversold without seperating the two signal types. Also, VME signal returns different results if I add the indiciator to a VBSR chart vs. a VBM chart. Can anyone help? Thank you!
Hi Michael,
There isn’t a property in the VME tool to separate the signal types, so therefore there isn’t a scripting option. You would need to combine the VBM() function and the oversold / overbought output.
Momentum end when VBM overbought > oversold:
VME() and (VBM().DSRS > VBM().DLRL)
Momentum end when VBM oversold > overbought:
VME() and (VBM().DLRL > VBM().DSRS)
Here’s an example using a separate Show Bar line for each condition on SPY:
