Cumulative Volume Price (Candle Body, High-Low)Indicator Description: Cumulative Volume Price (Candle Body, High Low)
This indicator features three cumulative plots that continuously accumulate values over time.
Cumulative Volume Plot:
The first plot displays the cumulative volume, calculated by continuously adding the volume values from zero.
Cumulative Candle Body Width Plot:
The second plot displays the cumulative width of the candle bodies, obtained by continuously adding the actual body widths from zero.
Cumulative Candle High-Low Width Plot:
The third plot displays the cumulative width of the candle high-low ranges, calculated by continuously adding the widths between the high and low prices from zero.
Usage Guidelines:
Due to the different orders of magnitude in value range used for volume and candlesticks, it is advisable to typically select and display any single plot.
説明
このインジケーターは、時間の経過とともに値を累積し続ける3つのプロットを備えています。
累積ボリューム:
ボリュームの値をゼロから累積的に加算しています。
ローソク足の累積実体幅:
ローソク足の実体幅の値をゼロから累積的に加算しています。
ローソク足の累積高安幅:
ローソク足の高安の幅の値をゼロから累積的に表示しています。
使用ガイドライン:
ボリュームとローソク足で使用する数値のオーダーが異なるため、通常は任意の一本を選択して表示することを想定しています。
On Balance Volume (OBV)
TASC 2024.01 Gap Momentum System█ OVERVIEW
TASC's January 2024 edition of Traders' Tips features an article titled “Gap Momentum” by Perry J. Kaufman. The article discusses how a trader might create a momentum strategy based on opening gap data. This script implements the Gap Momentum system presented therein.
█ CONCEPTS
In the article, Perry J. Kaufman introduces Gap Momentum as a cumulative series constructed in the same way as On-Balance Volume (OBV) , but using gap openings (today’s open minus yesterday’s close).
To smoothen the resulting time series (i.e., obtain the " signal line "), the author applies a simple moving average . Subsequently, he proposes the following two trading rules for a long-only trading system:
• Enter a long position when the signal line is moving higher.
• Exit when the signal line is moving lower.
█ CALCULATIONS
The calculation of Gap Momentum involves the following steps:
1. Calculate the ratio of the sum of positive gaps over the past N days to the sum of negative gaps (absolute values) over the same time period.
2. Add the resulting gap ratio to the cumulative time series. This time series is the Gap Momentum.
3. Keep moving forward, as in an N-day moving average.
Klinger Oscillator AdvancedThe Klinger Oscillator is not fully implemented in Tradeview. While the description at de.tradingview.com is complete, the implementation is limited to the pure current volume movement. This results in no difference compared to the On Balance Volume indicator.
However, Klinger's goal was to incorporate the trend as volume force in its strength and duration into the calculation. The expression ((V x x T x 100)) for volume force only makes sense as an absolute value, which should probably be expressed as ((V x abs(2 x ((dm/cm) - 1)) x T x 100)). Additionally, there is a need to handle the theoretical possibility of cm == 0.
Since, in general, significantly more trading volume occurs at the closing price than during the day, an additional parameter for weighting the closing price is implemented. In intraday charts, considering the closing price, in my opinion, does not make sense.
The TradeView implementation is displayed on the chart for comparison. Particularly in the analysis of divergence, significant deviations become apparent.
OBV Daily High Low Box Realtime (On Balance Volume)Overview
This indicator plots horizontal lines at the daily high and low levels of the On Balance Volume (OBV).
The numerical lines for each day are updated in real-time as the OBV high and low values change.
Please note that there are limitations on how far back in history the indicator can go due to Pine Script's object drawing limitations.
Multi-Asset Performance [Spaghetti] - By LeviathanThis indicator visualizes the cumulative percentage changes or returns of 30 symbols over a given period and offers a unique set of tools and data analytics for deeper insight into the performance of different assets.
Multi Asset Performance indicator (also called “Spaghetti”) makes it easy to monitor the changes in Price, Open Interest, and On Balance Volume across multiple assets simultaneously, distinguish assets that are overperforming or underperforming, observe the relative strength of different assets or currencies, use it as a tool for identifying mean reversion opportunities and even for constructing pairs trading strategies, detect "risk-on" or "risk-off" periods, evaluate statistical relationships between assets through metrics like correlation and beta, construct hedging strategies, trade rotations and much more.
Start by selecting a time period (e.g., 1 DAY) to set the interval for when data is reset. This will provide insight into how price, open interest, and on-balance volume change over your chosen period. In the settings, asset selection is fully customizable, allowing you to create three groups of up to 30 tickers each. These tickers can be displayed in a variety of styles and colors. Additional script settings offer a range of options, including smoothing values with a Simple Moving Average (SMA), highlighting the top or bottom performers, plotting the group mean, applying heatmap/gradient coloring, generating a table with calculations like beta, correlation, and RSI, creating a profile to show asset distribution around the mean, and much more.
One of the most important script tools is the screener table, which can display:
🔸 Percentage Change (Represents the return or the percentage increase or decrease in Price/OI/OBV over the current selected period)
🔸 Beta (Represents the sensitivity or responsiveness of asset's returns to the returns of a benchmark/mean. A beta of 1 means the asset moves in tandem with the market. A beta greater than 1 indicates the asset is more volatile than the market, while a beta less than 1 indicates the asset is less volatile. For example, a beta of 1.5 means the asset typically moves 150% as much as the benchmark. If the benchmark goes up 1%, the asset is expected to go up 1.5%, and vice versa.)
🔸 Correlation (Describes the strength and direction of a linear relationship between the asset and the mean. Correlation coefficients range from -1 to +1. A correlation of +1 means that two variables are perfectly positively correlated; as one goes up, the other will go up in exact proportion. A correlation of -1 means they are perfectly negatively correlated; as one goes up, the other will go down in exact proportion. A correlation of 0 means that there is no linear relationship between the variables. For example, a correlation of 0.5 between Asset A and Asset B would suggest that when Asset A moves, Asset B tends to move in the same direction, but not perfectly in tandem.)
🔸 RSI (Measures the speed and change of price movements and is used to identify overbought or oversold conditions of each asset. The RSI ranges from 0 to 100 and is typically used with a time period of 14. Generally, an RSI above 70 indicates that an asset may be overbought, while RSI below 30 signals that an asset may be oversold.)
⚙️ Settings Overview:
◽️ Period
Periodic inputs (e.g. daily, monthly, etc.) determine when the values are reset to zero and begin accumulating again until the period is over. This visualizes the net change in the data over each period. The input "Visible Range" is auto-adjustable as it starts the accumulation at the leftmost bar on your chart, displaying the net change in your chart's visible range. There's also the "Timestamp" option, which allows you to select a specific point in time from where the values are accumulated. The timestamp anchor can be dragged to a desired bar via Tradingview's interactive option. Timestamp is particularly useful when looking for outperformers/underperformers after a market-wide move. The input positioned next to the period selection determines the timeframe on which the data is based. It's best to leave it at default (Chart Timeframe) unless you want to check the higher timeframe structure of the data.
◽️ Data
The first input in this section determines the data that will be displayed. You can choose between Price, OI, and OBV. The second input lets you select which one out of the three asset groups should be displayed. The symbols in the asset group can be modified in the bottom section of the indicator settings.
◽️ Appearance
You can choose to plot the data in the form of lines, circles, areas, and columns. The colors can be selected by choosing one of the six pre-prepared color palettes.
◽️ Labeling
This input allows you to show/hide the labels and select their appearance and size. You can choose between Label (colored pointed label), Label and Line (colored pointed label with a line that connects it to the plot), or Text Label (colored text).
◽️ Smoothing
If selected, this option will smooth the values using a Simple Moving Average (SMA) with a custom length. This is used to reduce noise and improve the visibility of plotted data.
◽️ Highlight
If selected, this option will highlight the top and bottom N (custom number) plots, while shading the others. This makes the symbols with extreme values stand out from the rest.
◽️ Group Mean
This input allows you to select the data that will be considered as the group mean. You can choose between Group Average (the average value of all assets in the group) or First Ticker (the value of the ticker that is positioned first on the group's list). The mean is then used in calculations such as correlation (as the second variable) and beta (as a benchmark). You can also choose to plot the mean by clicking on the checkbox.
◽️ Profile
If selected, the script will generate a vertical volume profile-like display with 10 zones/nodes, visualizing the distribution of assets below and above the mean. This makes it easy to see how many or what percentage of assets are outperforming or underperforming the mean.
◽️ Gradient
If selected, this option will color the plots with a gradient based on the proximity of the value to the upper extreme, zero, and lower extreme.
◽️ Table
This section includes several settings for the table's appearance and the data displayed in it. The "Reference Length" input determines the number of bars back that are used for calculating correlation and beta, while "RSI Length" determines the length used for calculating the Relative Strength Index. You can choose the data that should be displayed in the table by using the checkboxes.
◽️ Asset Groups
This section allows you to modify the symbols that have been selected to be a part of the 3 asset groups. If you want to change a symbol, you can simply click on the field and type the ticker of another one. You can also show/hide a specific asset by using the checkbox next to the field.
Buyer/Seller Dominance ©TMW
The "Buyer/Seller Dominance" indicator script, developed by Deepanshu Sharma under The Market Wisdom (TMW), is a powerful analytical tool designed for use on the TradingView platform. This script is released under the Mozilla Public License 2.0, and it offers traders and investors an innovative perspective on market dynamics by assessing the relative strength of buyers and sellers within a given time frame.
Key Features:
1. Dominance Calculation: The indicator calculates the dominance of buyers and sellers over a specified number of candles. Users can define the number of candles (`n`) to consider in the dominance calculation.
2. Visual Representation: The script provides a visual representation of buyer and seller dominance using colored columns on the price chart. Green columns represent buyer dominance, while red columns represent seller dominance.
3. Balance Line: The indicator includes a dashed horizontal line at the zero level, representing a balance point between buyer and seller dominance. When the green and red columns cross this line, it signifies shifts in market sentiment.
How it Works:
The script divides the historical price data into segments of specified candle count (`n`) and assesses each segment's dominance. It calculates the volume associated with both green (bullish) and red (bearish) candles within each segment.
If a candle's closing price is higher than its opening price, it is considered a green candle. Similarly, if the closing price is lower than the opening price, the candle is classified as red. The volume of each respective type of candle is then accumulated for each segment.
The script plots the cumulative green candle volume as the "Buyer Dominance" column and the cumulative red candle volume as the "Seller Dominance" column. This visual representation helps traders gauge the ebb and flow of buyer and seller strength in the market.
Disclaimer :
The indicator is provided for informational purposes only and should not be considered as financial advice. It's important to conduct thorough research and analysis before making any trading decisions. The creator, Deepanshu Sharma, and "The Market Wisdom" team are not responsible for any trading losses incurred based on the usage of this indicator.
Remember that trading involves risks, and historical performance may not necessarily predict future results. Always consider multiple indicators, market trends, and risk management strategies when making trading decisions.
Relative Strength Volume ComparisonThe Relative Strength Volume Comparison is a powerful tool that can help traders identify the current trend based on volume pressure and potential reversals.
This oscillator is made of two lines and the overbought and oversold levels. Each of these two lines is a relative-strength formula that contains both the famous RSI and CCI formulas, smoothed by a Hull moving average.
The two lines are different for input. The colored line is based just on price and changes color based on the relation with the other line. The second line uses as input an average of three different popular volume indicators: The OBV, the Accumulation/Distribution, and the PVT.
Thanks to this tool, which uses 6 different formulas combined, traders can:
- Identify the current trend direction, based on the color of the area fill and the first colored line
- Identify potential reversal areas thanks to the overbought and oversold levels, customizable in the input section alongside the length and smoothing parameters.
On Balance Volume Heikin-Ashi Transformed
The OBV Heikin Ashi indicator is a modified version of the On-Balance Volume indicator that incorporates the Heikin Ashi transformation. This technical tool aims to provide traders with a smoother representation of volume dynamics and price trends.
The OBV Heikin Ashi indicator combines the principles of OBV and Heikin Ashi to offer insights into the volume and price behavior of an asset. Understanding OBV and Heikin Ashi individually will provide a foundation for comprehending the uniqueness and utility of this indicator.
On-Balance Volume:
OBV is a volume-based indicator that measures the cumulative buying and selling pressure in the market. It considers the relationship between volume and price movements to determine the overall strength and direction of a trend. Rising OBV values suggest bullish buying pressure, while falling values indicate bearish selling pressure.
Heikin Ashi:
Heikin Ashi is a Japanese candlestick charting technique that aims to filter out noise and provide a smoother representation of price trends. It calculates each candlestick based on the average of the previous candle's open, close, high, and low prices. Heikin Ashi candles can reveal the underlying trend more clearly by reducing market noise.
Methodology:
The 𝘖𝘉𝘝 𝘏-𝘈 indicator applies the Heikin Ashi transformation to the OBV values. Each OBV value is replaced with a Heikin Ashi equivalent, which is calculated based on the average of the previous Heikin Ashi candle's open and close prices. This transformation smooths out the OBV values and helps identify the overall trend with reduced noise. Additionaly, 2 optional EMAs are included for convergence-divergence analysis.
By applying the Heikin Ashi transformation to OBV, the indicator aims to enhance the readability of volume and trend information, providing traders with a clearer understanding of market dynamics.
Utility:
The 𝘖𝘉𝘝 𝘏-𝘈 indicator can be a valuable tool for traders and investors in analyzing volume and price trends. It offers a smoother representation of OBV values, allowing for easier identification of trend reversals, bullish or bearish market conditions, and potential trading opportunities. Traders can utilize the indicator to confirm price trends, validate support and resistance levels, and enhance their overall trading strategies.
It is worth noting that the effectiveness of the indicator may vary depending on the specific market and trading strategy. It is recommended to combine its analysis with other technical indicators and perform thorough backtesting before making trading decisions.
Key Features:
2 Adjustable EMAs
Normalized Oscillator Mode
Example Charts:
See Also:
Z-Score Heikin-Ashi Transformed
On-Balance Accumulation Distribution (Volume-Weighted)The On-Balance Accumulation Distribution (OBAD) indicator is designed to analyze the accumulation and distribution of assets based on volume-weighted price movements. The indicator helps traders identify periods of buying and selling pressure and assess the strength of market trends. By incorporating volume and price data, the OBAD indicator provides valuable insights into the flow of funds in the market.
To calculate the OBAD, the indicator multiplies the volume, price, and volume factor (user-defined) with the price change and aggregates the values over a specified length. This results in a histogram and a line plot representing the OBAD values. The OBAD signal line is derived by applying a simple moving average (SMA) to the OBAD values over a shorter period (9 by default). The crossover of the OBAD line and signal line can indicate potential entry or exit points.
The OBAD indicator utilizes coloration to enhance its visual representation and interpretation. The OBAD background is colored based on the relationship between the OBAD values and the OBAD signal line. When the OBAD values are above the signal line, the background is displayed in lime, suggesting a bullish accumulation scenario. Conversely, when the OBAD values are below the signal line, the background is colored fuchsia, indicating a bearish distribution pattern. The bar coloration is also applied to provide further visual cues, with lime representing bullish conditions and fuchsia denoting bearish conditions. When the OBAD signal line is above 0, it is colored green. Conversely, if the signal line is below 0, it is colored maroon.
The length parameter in the OBAD indicator determines the number of periods used in the calculation. Shorter lengths, such as 10 or 20, can make the indicator more responsive to recent price and volume changes, providing quicker signals. This can be beneficial for short-term traders or in fast-paced markets. Conversely, longer lengths, such as 50 or 100, smooth out the indicator and provide a broader view of accumulation and distribution over a more extended period. This may suit longer-term traders or when analyzing trends in less volatile markets. Traders should experiment with different lengths to find the optimal balance between responsiveness and smoothness that aligns with their trading goals.
The volume factor parameter allows traders to adjust the weighting of volume in the OBAD calculation. By modifying this factor, traders can emphasize the impact of volume on the indicator. Increasing the volume factor amplifies the influence of volume in the OBAD calculation, making it more sensitive to volume changes. This can be advantageous when volume is considered a significant driver of price movements, such as during news events or market catalysts. On the other hand, decreasing the volume factor reduces the impact of volume, making the indicator less sensitive to volume fluctuations. Traders can experiment with different volume factors to align the indicator's responsiveness with their analysis of volume patterns and its importance in their trading decisions.
The signal line period parameter determines the number of periods used to calculate the moving average of the OBAD values. Adjusting this parameter can help smooth out the indicator and filter out short-term noise or provide more timely signals. A shorter signal line period, such as 5 or 7, provides more sensitive and frequent crossovers with the OBAD values, potentially offering early entry or exit signals. This can be useful for traders seeking shorter-term trades or more agile trading strategies. Conversely, a longer signal line period, such as 9 or 14, smooths out the indicator and provides more stable signals. This may suit traders who prefer longer-term trends or a more conservative approach. Traders should consider their trading timeframe and the desired balance between responsiveness and stability when adjusting the signal line period.
The OBAD indicator can be applied in various trading strategies and scenarios. It helps traders identify potential trend reversals, confirm existing trends, and generate entry and exit signals. For example, when the OBAD histogram transitions from fuchsia to lime, it may suggest a shift from selling to buying pressure, signaling a potential buying opportunity. Traders can also use the OBAD indicator in conjunction with other technical analysis tools, such as trendlines or support/resistance levels, to confirm signals and make more informed trading decisions.
-- Trend Reversal Identification : The OBAD indicator can be useful in identifying potential trend reversals. When the OBAD values cross above the signal line after being below it, it may suggest a shift from bearish distribution to bullish accumulation. Conversely, when the OBAD values cross below the signal line after being above it, it may indicate a transition from bullish accumulation to bearish distribution. Traders can use these crossovers as potential signals to enter or exit trades in anticipation of a trend reversal.
-- Confirmation of Trend Strength : The OBAD indicator can act as a confirmation tool for assessing the strength of existing trends. When the OBAD values remain consistently above the signal line, it confirms the presence of strong bullish accumulation and validates the upward trend. Similarly, when the OBAD values stay consistently below the signal line, it confirms the presence of strong bearish distribution and validates the downward trend. Traders can use this confirmation to have more confidence in the prevailing trend and adjust their trading strategies accordingly.
-- Divergence Analysis : Divergence between the price and the OBAD indicator can provide valuable insights. Bullish divergence occurs when the price forms lower lows while the OBAD indicator forms higher lows, suggesting a potential trend reversal to the upside. Conversely, bearish divergence occurs when the price forms higher highs while the OBAD indicator forms lower highs, indicating a potential trend reversal to the downside. Traders can use these divergences as additional confirmation signals in their trading decisions.
-- Volume Analysis : The OBAD indicator incorporates volume data, making it particularly useful for volume analysis. Traders can analyze the relationship between OBAD values and volume levels to gauge the strength and validity of price movements. Higher OBAD values accompanied by higher volume can indicate strong accumulation or distribution, providing confirmation for potential trade setups. On the other hand, lower OBAD values accompanied by low volume may suggest a lack of participation and potentially signal caution in trading decisions.
It is important to note that the OBAD indicator, like any other technical indicator, has certain limitations. It relies on historical price and volume data, which may not always accurately reflect current market conditions or future price movements. Traders should exercise caution and use the OBAD indicator in conjunction with other analysis techniques and risk management strategies. Additionally, customization of the OBAD parameters, such as adjusting the length or volume factor, can provide flexibility to adapt the indicator to different market conditions and trading preferences.
Overall, the OBAD indicator serves as a valuable tool for traders to gauge the accumulation and distribution patterns in the market. Its calculation based on volume-weighted price movements and the coloration enhancements make it visually appealing and intuitive to interpret. By incorporating the OBAD indicator into trading strategies and considering its limitations, traders can potentially improve their decision-making process and enhance their trading outcomes.
Z-Score(Slope(OBV(LBC)))Summary : Market price is simply a dance of liquidity to the specific market.
tl;dr: "Cash come-in, market moon; Cash go-out, market doom"
In Simple Language : Large changes in the money flow to an asset often mark local price extremia.
Academic paper:
Title: Z-Score(Slope(OBV)): An Efficient Indicator for Identifying Local Extremes in Asset Prices
Abstract: This paper presents a novel trading indicator, Z-Score(Slope(OBV)), that aims to predict local extremes in asset prices by analyzing the patterns of money flow. The indicator is constructed using the Z-score of the slope of the On Balance Volume (OBV).
Hypothesis: The price levels at which the money flows into and out of an asset often mark local extremes. This notion underpins our exploration of the Z-Score(Slope(OBV)) indicator's potential in identifying these critical points.
1. On Balance Volume (OBV): The OBV is a momentum indicator that leverages the volume flow to forecast potential changes in asset prices. It operates on the premise that changes in volume often presage shifts in price. The OBV algorithm adds a period's volume to the cumulative total when the closing price is up and subtracts it when the closing price is down. Therefore, an ascending OBV suggests positive volume pressure, potentially heralding higher prices, while a declining OBV signifies negative volume pressure, possibly indicating lower prices.
2. Slope: In this context, the slope represents the rate of change of the OBV. It is a measure of the rise-over-run for a linear regression line through the OBV data points. By evaluating the slope of the OBV, we can extract valuable insights into the momentum of the volume. A positive slope indicates increasing volume momentum, suggesting growing interest in the asset, while a negative slope implies declining volume momentum, potentially reflecting dwindling interest.
3. Z-Score: The Z-score is a statistical measure that delineates a data point's relationship to the mean of a group of values, expressed in terms of standard deviations from the mean. For instance, a Z-score of 0 reveals that the data point's score aligns with the mean score. Positive Z-scores indicate values higher than the mean, and negative Z-scores represent values lower than the mean. Applying the Z-score to the slope of the OBV allows us to comprehend the degree of deviation of the current OBV slope from its historical mean.
A Z-score of 1 suggests that the OBV's slope is one standard deviation from the mean, which implies that the slope is within the range of values where approximately 68% (not 67%) of all values lie.
A Z-score of 2 implies that the slope is two standard deviations from the mean, thus within the range where roughly 95% of all values lie.
A Z-score of 3 indicates that the slope is three standard deviations from the mean, putting it within the range where about 99.7% of all values lie.
Z-scores of 4 and 5 and beyond are increasingly rare and represent extreme values.
4. The Z-Score(Slope(OBV)) Indicator and Line Break Chart Synergy: The Z-Score(Slope(OBV)) indicator's efficiency is further amplified when visualized using a Line Break chart. This chart type disregards time, concentrating solely on price changes, thus providing a clear visualization of market trends. When combined with the Line Break chart, the Z-Score(Slope(OBV(LBC))) indicator can help traders identify trend shifts more accurately and promptly, reinforcing the hypothesis that price levels where money flows into and out of an asset often mark local extremes.
In summary, the Z-Score(Slope(OBV)) indicator, combining volume, momentum, and statistical analysis, provides a robust tool for traders to predict local extremes in asset prices.
Regarding Implementation:
- This is implemented using Pinescript V5
- Uses inbuilt ta module
- Very effective and simple and efficient computation in 30 lines of code
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.
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.
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.
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.
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.
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.
