Klinger Oscillator (KO) is a forex technical indicator used in technical analysis by traders. Klinger Oscillator (KO) is named after its inventor Stephen J. Klinger and it estimates volume-based money flows directions.

Klinger Oscillator (KO) set out to develop a volume-based indicator to help in both short- and long-term analysis. This oscillator is a construct of volume and is used to determine whether it (volume) is confirming price changes.

The Klinger Oscillator (KO) is intended to show 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 most dramatic indicator according to Klinger turns up when the difference from the implied price action and KO occurs on new highs or new lows in the area of overbought or oversold.

Trader should buy when the Klinger Oscillator takes unusually low values below zero then goes up over the trigger line during the period of price being in an uptrend, that means price is higher than 89-day exponential moving average. Trader should sell when the Klinger Oscillator takes extremely high values and then goes lower through the trigger line during a downtrend that means the price which is lower than an 89-day exponential moving average.