OPEN-SOURCE SCRIPT
On Balance Volume Trend
Updated
© 2022, CryptoNaut1000
An extension to "On Balance Volume Momentum (OBV Momentum)".
"OBV Trend" is a trend strength indicator, that can be used to identify strong trends and also trend changes based on volume.
High positive values indicate strong volume on the buy side, high negative values indicate strong volume on the sell side.
An increasing OBV trend indicates a strengthening buy trend or a weakening sell trend,
decreasing OBV trend indicates a strengthening sell trend or weakening buy trend.
OBV trend is calculated by plotting a short vs. a long moving average and filling the difference in volume.
OBV trend metric is absolute volume.
An extension to "On Balance Volume Momentum (OBV Momentum)".
"OBV Trend" is a trend strength indicator, that can be used to identify strong trends and also trend changes based on volume.
High positive values indicate strong volume on the buy side, high negative values indicate strong volume on the sell side.
An increasing OBV trend indicates a strengthening buy trend or a weakening sell trend,
decreasing OBV trend indicates a strengthening sell trend or weakening buy trend.
OBV trend is calculated by plotting a short vs. a long moving average and filling the difference in volume.
OBV trend metric is absolute volume.
Release Notes
Updated chart.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.