Adjusted OBVThis script shows On-Balance Volume adjusted for volume weighted candle body size.
This means that the wick lengths, body length, and sell/buy pressure are calculated into percentages of volume that contributed to each.
The body volume is the accumulatively tracked across candles to give a more accurate On-Balance Volume that has been traded to achieve the current price over time.
The script output is in Orange and for comparison the original technical OBV is in Blue.
As this is my first script, I hope to update it to include a 'buy' and 'sell' pressure gauge to perhaps turn this from a mere indicator into potentially a bit more predictive.
In the meantime, it should be useful for tracking OBV for other uses in a more accurate and less volatile way.
Denge İşlem Hacmi (OBV)
Adjusted OBV with Cross & DivergenceOBV is a technical indicator used to observe changes in volume. Traditional OBV calculate all historical volume, it makes the OBV being usually higher than 0.
What I think of this is that calculating volume for a period of time is more useful than all historical volume.
So I made some adjustments to the OBV Period, only calculating the volume from the past 120 days.
Why It's 120 days?
Because I backtested COINBASE:BTCUSDT, it has better performance.
In addition, I also set up MA12 and MA30, which is the MA OF OBV. What it does is to provide entry signal for trading.
This is what you can use this indicator(see Chart):
1. OBV Divergence(Top divergence = bearish, Bottom divergence = bullish)
2. Observe the OBV is in Uptrend or Downtrend(Uptrend = bullish, Downtrend = bearish)
3. The crossing of two MA12 and MA30 can be used as an entry signal(Golden cross = bullish, Death Cross = bearish)
4. Use Deduction ball to see OBV goes up or down in the next few candles
How to know if OBV has Divergence?
Price Higher + Lower OBV = Top divergence
Price Lower + Higher OBV = Bottom divergence
How to see if OBV is in Uptrend or Downtrend?
If OBV is above MA12/MA30, it's in uptrend, if OBV is below MA12/MA30, it's downtrend.(See chart)
What is Deduction ball?
It's used to compare to the volume 120 days ago, this can help to see if OBV goes up or down in the next few candle.
Why use MA12/MA30 with 120 days volume?
Because I backtested COINBASE: BTCUSDT, and found that it has higher winning rate.
中文說明（Chinese Explanation）：
OBV是用來觀察成交量變化的技術指標。 傳統的OBV計算所有的歷史成交量，使得OBV經常為正。
我的想法是，計算一段時間的交易量比所有歷史交易量更有用。
所以我對 OBV 時間長短做了一些調整，只計算過去 120 天的交易量。
為什麼是120天？
因為我回測了COINBASE:BTCUSDT，它的性能更好。
另外，我還設置了MA12和MA30，也就是OBV的簡單移動平均。 它的作用是為交易提供入場信號。
這是您可以使用該指標的內容（見圖表）：
1. OBV背離（頂部背離=看跌，底部背離=看漲）
2.觀察OBV處於上升趨勢還是下降趨勢（上升趨勢=看漲，下降趨勢=看跌）
3.兩條MA12和MA30的交叉可以作為入場信號（黃金交叉=看漲，死亡交叉=看跌）
4. 使用抵扣球查看 OBV 在接下來的幾根蠟燭中會上升還是下降
如何知道OBV是否有背離？
價格更高 + 更低的 OBV = 頂部背離
價格更低 + 更高 OBV = 底部背離
如何查看 OBV 處於上升趨勢還是下降趨勢？
如果 OBV 高於 MA12/MA30，則處於上升趨勢，如果 OBV 低於 MA12/MA30，則處於下降趨勢。（見圖表）
什麼是抵扣球？
它用於與 120 天前的成交量進行比較，這有助於查看 OBV 在接下來的幾根蠟燭中是上漲還是下跌。
為什麼使用MA12/MA30 與120長度的成交量？
因為我回測了COINBASE: BTCUSDT，發現它的勝率更高。
Overbought & Oversold HeatmapThe Broadview OBOS Heatmap is a new indicator that takes commonly used oscillators and transforms them into a powerful heatmap, providing traders and investors with an unparalleled level of insight into market trends and cycles. With the ability to visualize 15 different oscillators all at once, the Broadview Overbought & Oversold Heatmap offers users the ability to control and analyze an impressive array of indicators.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It is often used to identify overbought and oversold conditions in the market. The Money Flow Index (MFI) is a volume-weighted version of the RSI, used to measure buying and selling pressure. The Commodity Channel Index (CCI) is a versatile oscillator used to measure momentum, trend, and overbought/oversold conditions. It is often used to identify trend reversals.
The Aroon Oscillator is a trend-following oscillator that measures the strength of a trend and the potential for a trend reversal. The Relative Volatility Index (RVI) is a volatility-based oscillator that measures the strength of a trend and potential trend reversals. The Stochastic Detrended Price Oscillator is a momentum oscillator that measures the difference between the current price and its moving average.
The Stochastic Elders Force Index is an oscillator used to measure buying and selling pressure. The Stochastic Relative Strength Index is a momentum oscillator used to measure the strength of a trend. The Stochastic Relative Vigor Index is a momentum oscillator used to measure the trend strength and potential reversals. The Stochastic Klinger Oscillator is a momentum oscillator that measures buying and selling pressure. The Stochastic Awesome Oscillator is a momentum oscillator that measures the difference between two moving averages.
The Stochastic Ultimate Oscillator is an oscillator used to measure the strength of a trend and potential reversals. The Stochastic Chande Momentum Oscillator is a momentum oscillator that measures the difference between two moving averages. The Stochastic On Balance Volume Oscillator is a volume-based oscillator used to measure the buying and selling pressure. The Stochastic MACD is a momentum oscillator that measures the difference between two moving averages.
The Broadview OBOS Heatmap is an extremely powerful indicator that reimagines commonly used oscillators as a heatmap, providing traders and investors with an unparalleled level of insight into market trends and cycles. With the ability to control and analyze 15 different oscillators at once, the Broadview Overbought & Oversold Heatmap offers users an incredibly comprehensive tool for analyzing market trends and making informed trading decisions.
RBX - OBV MACDOBV (On-Balance Volume) is a technical indicator that measures the momentum of buying and selling pressure in a market based on the volume of trades. It uses a cumulative total of volume traded during periods of price increases and decreases to determine the overall trend. When prices rise, OBV increases, and when prices fall, OBV decreases.
The enhanced version of OBV combines the traditional OBV formula with the MACD (Moving Average Convergence Divergence) indicator to provide more information about the momentum of the volume flow. The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of price.
In the enhanced OBV with MACD, the top color in the OBV line indicates the quadrant of the MACD, with green indicating the first quadrant (positive value of MACD and increasing), red indicating the second quadrant (negative value of MACD and decreasing), magenta indicating the third quadrant (negative value of MACD and increasing), and cyan indicating the fourth quadrant (positive value of MACD and decreasing).
The top bar color in the enhanced OBV with MACD indicates the increasing or decreasing of the MACD histogram. A green bar indicates an increasing histogram, while a red bar indicates a decreasing histogram.
In addition, the plus bar sign in the enhanced OBV with MACD signifies that the OBV is making a new high or new low. This helps traders identify potential trend reversals or confirm the current trend.
Overall, the enhanced OBV with MACD provides traders with more information about the momentum of volume flow and potential trend reversals, making it a useful tool for technical analysis in trading.
Indicatore volatilità v5 con segnali------------- INGLESE -------------
This indicator uses an exponential moving average (HMA) of the length specified by the user to calculate market volatility. Volatility is calculated by multiplying the Average True Range (ATR) by the simple moving average (SMA) of the volume.
The code uses colors to display market conditions. If the closing price is above the HMA, the columns turn green. If the closing price is below the HMA, the columns turn red. If volatility is below the SMA of volatility multiplied by the user-specified sideways volatility threshold, the columns turn orange.
In addition, the code uses the Rate of Change (ROC) to generate buy and sell signals. If the ROC is positive and the columns are green, a buy signal is generated and the columns turn black. If the ROC is negative and the columns are red, a sell signal is generated and the columns turn purple.
In summary, this indicator uses colors to display market conditions and help the user enter and exit the market based on volatility.
If you like this indicator give me a boost and leave a comment!! Thank you!
------------- ITALIANO -------------
Questo indicatore utilizza una media mobile esponenziale (HMA) della lunghezza specificata dall’utente per calcolare la volatilità del mercato. La volatilità viene calcolata moltiplicando l’Average True Range (ATR) per la media mobile semplice (SMA) del volume.
Il codice utilizza i colori per visualizzare le condizioni di mercato. Se il prezzo di chiusura è superiore all’HMA, le colonne diventano verdi. Se il prezzo di chiusura è inferiore all’HMA, le colonne diventano rosse. Se la volatilità è inferiore alla SMA della volatilità moltiplicata per la soglia di volatilità laterale specificata dall’utente, le colonne diventano arancioni.
Inoltre, il codice utilizza il Rate of Change (ROC) per generare segnali di acquisto e vendita. Se il ROC è positivo e le colonne sono verdi, viene generato un segnale di acquisto e le colonne diventano nere. Se il ROC è negativo e le colonne sono rosse, viene generato un segnale di vendita e le colonne diventano viola.
In sintesi, questo indicatore utilizza i colori per visualizzare le condizioni di mercato e aiutare l’utente a entrare e uscire dal mercato in base alla volatilità.
Se ti piace questo indicatore mettimi un boost e lascia un commento!! Grazie!
Volume DockThis oscillator has two different modes:
The first one called RSIs is a comparison between the Relative strength index of the Accumulation/Distribution (and the On Balance Volume) and the normal price, to analyze the differences in momentum between the price with volume and without.
The second one, called Dock, is similar except for the fact that the lines are smoothed using the hull moving average formula, this mode is great to signal entries and for reversal analyzing.
BE - OBV MACD█ Overview
BE - OBV MACD - Algo Trading is an indicator developed to analyze volume , MACD and PSAR simultaneously in order to understand how they are co-related to each other. This tool calculates the likelihood of strength for buying or selling within the market direction.
█ Calculations
The algorithm individually computes the likelihood of flow of volumes (OBV, MACD & PSAR). A positive score is assigned for events where the Buyers volume is rising over the candle, MACD on the price is rising and MACD on the OBV is providing positive output and the PSAR is Below the close price thus generating the Buy Signal, and a negative score for the vise versa thus generating the Sell Signal.
Note: Since this indicator is an overlay indicator MACD and OBV is not shown on the chart. One can add them on the chart if you wish to analyze the impact of the same.
█ Settings
Customization of settings is possible for risk management concepts like setting the initial SL level, Trail SL Level, Day Max Level.
Hide or Show plots and Table is possible from the indicator settings.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, back-test, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
OBV-MACDThe OBV-MACD indicator is a momentum-based technical analysis tool that helps traders identify trend reversals and trend strength. This Pine script is an implementation of the OBV-MACD indicator that uses the On-Balance Volume (OBV) and Moving Average Convergence Divergence (MACD) indicators to provide a momentum data of OBV.
The OBV-MACD indicator uses the OBV to calculate the cumulative volume, which is then smoothed using two moving averages - fast and slow. The difference between these moving averages is plotted as a histogram, with a signal line plotted over it. A buy signal is generated when the histogram crosses above the signal line, indicating a bullish trend, while a sell signal is generated when the histogram crosses below the signal line, indicating a bearish trend.
This Pine script also includes an OBV-MACD-Donchian version that incorporates Donchian channels for the OBV-MACD. The Donchian channel is a technical analysis indicator that helps traders identify the highs and lows of an asset's price over a certain period. The OBV-MACD-Donchian version uses the OBV-MACD indicator along with the Donchian channels to provide signals that the momentum of OBV is making new high/low during that period of time.
Traders can customize the input parameters of the OBV-MACD indicator, such as the timeframe, method of calculation for the moving averages, and the lengths of the moving averages and breakout lengths. The colors of the plot can also be customized to suit the trader's preferences.
[Hoss] OBV RSIThe OBV ( On Balance Volume ) RSI ( Relative Strength Index ) indicator is an innovative tool that combines the power of OBV and RSI to provide traders with a comprehensive view of the market's momentum and volume dynamics. This combination enables users to make better-informed trading decisions by analyzing the relationship between price, volume , and relative strength .
The script starts by calculating the On Balance Volume , which is a cumulative volume-based indicator that measures buying and selling pressure. The OBV increases when the closing price is higher than the previous closing price and decreases when the closing price is lower than the previous closing price. This helps traders identify potential price trend reversals based on volume accumulation or distribution.
Next, the script computes the Relative Strength Index ( RSI ) based on the OBV values, offering a unique perspective on the market's momentum through the lens of volume . The RSI is a popular momentum indicator that ranges from 0 to 100 and helps traders identify overbought and oversold conditions. In this script, the user can define the RSI length and the higher and lower levels (default values are 70 and 30, respectively).
A distinctive feature of this OBV RSI indicator is the addition of a monitor that counts the number of times the RSI crosses above the higher level and below the lower level within a user-defined lookback period. This monitor is displayed as a table in the bottom right corner of the chart and can be enabled or disabled through an input option.
The cross count monitor provides valuable insights into the historical frequency of RSI crossings, helping traders to identify potential trading opportunities based on historical price behavior around these levels.
Multiple Divergences - Candle Edition - Libertus█ OVERVIEW
This script will help you track multiple indicator divergences in an easy, clean, and very visible way. Currently supported indicators at the time of script publishing are the Relative strength index (RSI) and On balance volume (OBV). If you have suggestions on which other popular indicators to add, leave them in the comments or message me directly.
You can track divergences manually, but it's time-consuming, you can easily miss them and if you want to track it on more than one indicator it will consume a lot of your screen space.
The script is using my time-tested divergences code, loved by a lot of TradingView users. If you want to use RSI divergences code in your scripts, you can find it in my Relative Strength Index - Divergences - Libertus indicator .
This script continues to improve on my popular RSI Divergences - Candle Edition - Libertus .
█ USAGE
In short, divergences occur between price and indicator. When the price makes a new high or low, but the indicator doesn't make a new high or low. Please check Investopedia for a more detailed explanation of RSI and OBV divergences.
BULL marks bullish divergence, which means the price made a new low, but the indicator value still hasn't made a new low. It can indicate a bullish trend change.
BEAR marks bearish divergences, which means the price made a new high, but the indicator value still hasn't made a new high. It can indicate a bearish trend change.
PIVOT is the highest or lowest price (candle) in the lookback period.
ALERTS are available for all PIVOTS and divergences, including candles with multiple divergences.
█ SETTINGS
HIDE PIVOT - ON by default, hides pivots.
SHORTER LABELS - OFF by default, removes text from BEAR / BULL labels.
HIDE LABELS AND COLOR BACKGROUND - OFF by default, hides labels completely and colors chart background.
LOOKBACK PERIODS - number of candles script will check in history for the pivot.
Hopefully, this indicator will help you in your trading. Good luck!
The On Balance Volume & Accumulation Distribution RibbonMedic trades using "Smart Money Concepts", and Medic's system revolves around the one taught by MentFX (i.e. Structure, Supply/ Demand Zone , and Confirmation). While this system per se doesn't require the use of a volume indicator, Medic has come to respect the OBV and Accumulation / Distribution .
The OBV Ribbon is available in many a shape and form, but Medic wanted something more responsive, and the OBVAD is just that.
This ribbon works across all time frames, and allows users to visualize what is happening behind the scenes of The Trigger indicator.
The Ribbon applies 11 DEMA of different periods to the cumulative sum of SpaceTrader's OBV/AD formula: volume*(close-open)/( high-low )*hlc3.
The Ribbon is able to identify the general trend, and changes into a blu ein an uptrend, and purple in a downtrend, and also potential reversals by means of divergences.
On Balance Volume Scaled - OBV ScaledThe main idea of this oscillator is to place the OBV oscillator and its oscillation around the range of 0 and around -50 to +50 and for this scaling of the "On Balance Volume" oscillator, I have used Min-max normalization.
Since this oscillator does not have a specific minimum and maximum, just setting the maximum and minimum does not seem the best thing to do. As in this case, we will constantly observe sudden changes and we will have problems such as volatility. On the one hand, we will constantly deal with sudden changes and problems such as volatility. Also on the other hand, the continuous collisions of the high/low(+50 & -50) and index and returning from that is another thing that we are going to deal with.
Therefore, to solve these problems and create more flexible maximum and minimum ranges, another similar method has been used. Choosing the maximum of our normalization to the size of the moving average of 100 candles of the index maximum and choosing the minimum of normalization to the size of the moving average of 100 candles of the minimums of the OBV index, and then normalizing the OBV index with the Min-max method with those ranges, is the recommended method ,which has been used to eliminate problems. In this case, we will not have any problem hitting 50 and returning or hitting -50 and returning. Also, our scaled OBV index will have the ability to touch and cross 50 and -50 and can fluctuate without problems.
Aggregated OBVWhat is it?
This OBV is a replacement for previous scripts i have issued which produced a combined OBV for Bitcoin and ETH using multiple exchanges.
When combined volume is selected, it will pick up volume across major crypto exchanges and use them together to produce a combined OBV.
There is also the added functionality of enabling users to choose the quoted price rather than the volume of coins traded.. i.e. showing the USD impact (or whatever the denominator currency is)
There is also the added function of divergences added.
The combined volume function will only work for crypto exchanges - de-select if not reviewing crypto
The quote price will work for any asset selected.
Other than the additional functionality, the indicator should be used in TA as per normal OBV analysis.
Exchanges Considered:
BITFINEX
COINBASE
BITSTAMP
KRAKEN
BINANCE
GEMINI
HOUBI
KUCOIN
OKEX
BITTREX
Thanks to eAkosKovacs for help in making the code more robust.
On Balance Volume CrossoversCheck on balance volume but with crossover. You can choose the smoothing method, which is set by default to use the Volume Weighted Moving Average (bringing volume to the equation is always a good idea) but you can change to SMA, MA, EMA, ...
Hope you guys enjoy it and don't forget to rate it up! :)
I plan to include % from 0-100 OBV in here later! Stay tuned.
Feedback is cool.
Custom OBV OscillatorThis is a modified OBV indicator that creates an oscillator by smoothing the difference between the value of the OBV and a short moving average of the OBV. SMAs of the oscillator are also provided to study crosses and convergence/divergence.
The indicator should mostly be used on common stock, but works on futures contracts with some tuning and a shorter timeframe.
ETHUSDT Long-Short using EMA,OBV,ADX,LinearReg,DXY(No repaint)This script strategy is used to follow the trending EMA with a delta difference (Price-EMA) to know when to enter and with 5 variables mentioned below, stop loss is below EMA line all the time in long and above EMA line in short, is like a trailing stop after candle is closed. Hard stop is also placed to prevent big candles movements, also correlation between VIX and ETH when the correlation is <-0.2 the position can be opened.
Indicators used:
EMA , OBV , ADX , Linear regression and Dollar Index trending, Leverage is available for Long and Short positions.
LONG
When Price is above EMA and price-ema difference is smaller than "Long delta Price/MA"
OBV(4hrs) is above OBV-EMA(110)
Linear regression is strong
ADX is strong >50
DXY is trending down
SHORT
When Price is below EMA and ema-price difference is smaller than "Long delta Price/MA"
OBV(4hrs) is below OBV-EMA(110)
Linear regression is weak
ADX is weak <50
DXY is trending up
BINANCE:ETHUSDT 30 minutes Timeframe
US Market Balance of Power Heikin Ashi Swing StrategyThis is a swing strategy, using the power of correlation, mainly designed for an investment approach for the US Market.
It uses the original OBV formula, which has been adapted to monthly heikin ashi candles values, which are taken from the correlated asset, in this case we are using QQQ chart for testing, but internally we are using the logic from SPY chart for calculations.
Once we that value, we make a moving average of it with the length of half of a year to have an idea about the overall price trend during that period of time.
After that, we are going to apply a percentile formula for the OBV value, and we are going to look for the percentile near 100th rank of the entire history of that data.
Finally once we have the top percentile values, we are going to create different formulas for long and short entries:
Short Entry/ Long exit = Current top percentile is higher than the previous top percentile value
Long Entry/ Short Exit = Current obv value is negative and the top percentile is smaller than the previous one or we are near the top values for the OBV oscillators ( crossing upwards previous candle/downwards current candle)
The strategy has been tested using 25% of the entire initial capital available in order to have an idea about the compound effect over the entire history of time which was selected.
From the test which can determine, that on average when we have strong bullish trends, the initial buy n hold strategy outperforms us, however the strategy is definitely a winner when there are side market/ bearish periods of time since it will help cut losses during these periods.
If you have any questions, please let me know !
GIRISH indicatorHello traders,
This indicator is the enhancement to my previous indicator (RSI+OBV). There is combined RSI and OBV with DMI. This new indicator is combination of RSI and OBV with VWAP . I have been using this indicator for intraday trades in NIFTY & BANKNIFTY .
The white line indicates the movement of VWAP wrt current price. There default range for this has been defined as -40 to 40 .
Entry for long: When white line goes below -40, we need to wait for green background. Entry has to be taken when green background appears. If price goes below the entry point, averaging can be done once. Price will surely go long and give us good profit.
Entry for short: When white line goes above 40 , we need to wait for red background (if darker red comes, it is better) . Entry has to be taken when red background appears. If price goes above the entry point, averaging can be done once. Price will surely go down and give us good profit on short side.
PS: Please do back testing in chart before taking trades.
Cheat Code's RedemptionWELCOME TO THE CHEAT CODE REDEMPTION PACK!!!!
I want to take a deep dive into what this indicator consists of and how you can use it to improve your trading strategy.
-What does the CCR consist of?
The Oscillator:
The oscillator is a combination of a true strength index sampled from on-balance volume and a regular RSI at default settings. The reason I added the on-balance volume is that it does not tend to remain at overbought or oversold conditions as traditional momentum oscillators do.
The Histogram:
The histogram is copied to a tee from the MACD histogram, the only difference here is that I extended the moving averages to depict a special pairing; the ema55 slow and ema21 fast. I then converted it into another true strength index, as the calculations fit all time frames.
The Divergences:
The divergences of an indicator can be extremely useful in catching scalp opportunities, a DARK RED/GREEN represents a REGULAR divergence, while a SALMON/LIGHT GREEN color represents a HIDDEN divergence.
The moving average:
The moving average built into this indicator is depicted as an aqua or yellow line, when the oscillator is moving in an uptrend, the moving average will appear aqua, when the oscillator is in a downtrend it will appear yellow. Use this as confirmation bias or as the third derivative of market position.
Oscillator Colors:
The Oscillator color is an important thesis of this indicator. When the line is green, it means the market is effectively in an uptrend, when it is red, it means the market is in a downtrend. Use this to prevent longing in a serious downtrend and vice versa.
If you have any questions regarding the indicator(s), feel free to reach out to me in the comments or through Direct Message!!!
Safe Trading, Don't get Rekt
- CheatCode1 <3
Multi-Indicator Divergence ScreenerHere is a new screener for everyone.
I have applied my Better Divergence On Any Indicator logic to scan 3 different indicators and up to 6 different assets at one time. Shoutout to LonesomeTheBlue and QuantNomad for their respective work on divergence and scanner scripts. I've implemented similar logic to put together this scanner.
So far, I have added support for RSI, OBV, MACD, MFI, Stochastic, and FSR, though I'm happy to add more by request. Please note, for simplicity, I have removed the logic to filter for only overbought/oversold divergences. Because this can scan both centered oscillators and non-centered indicators, overbought/oversold does not apply to all of them. I may try to find a way to work in back in later, as time allows.
Personally, I like to find confluences different types of indicators. For instance, agreeable divergence with a centered strength oscillator like RSI and a volume based indicator like OBV gives me more confidence that there will be follow-through.
Like in the Better Divergence script, you can opt to scan for confirmed divergences, potential divergences, or both.
You have the option to show or hide a table that will tell you exactly which assets have divergence, on which indicator they were found, and how many points of divergence were identified. By default, bull divergences will be green, bear will be red, but you can change these base colors to your liking. Confirmed divergences are shown with a solid background, while potentials (if selected) are shown with transparent background. If all 3 of your chosen indicators have divergence in the same direction, the asset name will show in the bull or bear color to highlight the confluence.
Alerts have also been set up to fire on bar close. The message will essentially tell you the same thing the table does, but in condensed format.
You can choose to have alerts fire any time there is any divergence detected across all assets, only when there are divergences on at least 2 of the chosen indicators for a given asset, or limit them to only when all 3 indicators show divergence in agreement.
JSS: On Balance Volume//Date: 11-Oct-22
//Author: Jatinder Sodhi
OBV Indicator with colour coding.
Blue - Long
Red - Short
Best used for Intraday on 5 minute charts. Works well on other timeframes as well.
@Inspired by Asit Baran's RankDelta:OBV Indicator
//Not an exact replica as I have found one line correctly ema(obv,21)
//Whereas second line ema(obv,5) corresponds closely with Asit's indicator values but not exact.
//Advisable to use along with my RSI indicator based on Asit Baran's RankDelta:RSI indicator.
Altered OBV On MACDHere is another strategy along with an indicator that is already published for everyone to use wisely in the tradingview platform. The strategy is not very planned to highlight where to enter and when to exit as it is just a system. So, it is always good practice to follow the signal of simple moving averages and that is the reason you could find those color lines in this strategy as well.
As the indicator signals the entry point, it is wise to decide what the SMA (21, 50, 90, 200) signals us. When the price oscillated around the higher timeframe of moving averages, then it is wise to wait before entering.
OBV:
The OBV is perfect indicator to understand the strength of the particular stock. As the strength increase, the trend of the stock goes high along with price. But, the OBV is considered only with close of previous close which is to make sure the double confirmation on the price to accumulate the volume .
Altered OBV:
So, here is the altered OBV, which basically consider the close of previous close and also buying interested of the day when close is higher than open.
MACD:
I always admire the magic of MACD with pre-defined timeframe. Now, this MACD applied on top of altered OBV to signal us the moving of the ticker strength.
Long:
The long entry occurs when the MACD on Altered OBV signal bullish and the same time the MACD on close already bullish.
Short
The short denotes when the MACD on Altered OBV signal bearish and at the same time the MACD on close already bearish.
I hope this would help on your swing trading strategy.
Happy Investing.
filbfilbs Better OBVThis indicator looks at the delta on the buying and selling volume of customizable lower timeframes to the timeframe selected and cumulates the delta between the buying and selling of those candles.
For example on a 4-hour chart, it will look at the 1 min timeframes and consider the delta by LTF candle, ranter than the summised view on the 4-hour.
In essence, it is trying to replicate CVD using time and price data without the order book, it becomes a "better, lower timeframe based, customizable OBV"
It also prints divergence as squares above or below the chart, where, for example, there would be buying on LTFs but the HTF candle closes red, this would be shown as bearish divergence.
Credit to Trading view and their up / down indicator, which this is a derivative of.
Any questions please ask!
