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20 Oca 2023

//version=4
study(title="OBV Divergence Indicator")

pivot_right = 5
pivot_left = 5
max_range=50
min_range=5

obv_value=obv
plot(obv_value, title="OBV", linewidth=2, color=color.black)


//check if we have pivot low in obv
pivot_low_true = na(pivotlow(obv_value, pivot_left, pivot_right)) ? false : true //returns price of the pivot low point. It returns 'NaN', if there was no pivot low point.

//Create a function that returns true/false
confirm_range(x) =>
bars = barssince(x == true) //Counts the number of bars since the last time the condition was true
min_range <= bars and bars <= max_range // makes ure bars is less than 60 and less than 5 and returns true

//------------------------------------------------------------------------------
// obv higher low check

OBV_HL_check = obv_value[pivot_right] > valuewhen(pivot_low_true, obv_value[pivot_right], 1) and confirm_range(pivot_low_true[1])

// Price Lower Low check

price_ll_check = low[pivot_right] < valuewhen(pivot_low_true, low[pivot_right], 1)

bullCond = price_ll_check and OBV_HL_check and pivot_low_true

//Plot the areas, terneary conditional operator
plot(
pivot_low_true ? obv_value[pivot_right] : na,
offset=-pivot_right,
linewidth=3,
color=(bullCond ? color.green : color.new(color.white, 100)))//colornew applies the specified transparency to the given color

)

plotshape(
bullCond ? obv_value[pivot_right] : na,
offset=-pivot_right,
text=" BUY ",
style=shape.labelup,
location=location.absolute,
color=color.green,
textcolor=color.white

)