On Volume Balance Oscillator By [LeonidasCrypto]

This indicator will help you to read OBV in a different way. I added rules I am following for my own system and experience.

OBV is one of the best indicators in my experience for trading.


How to trade with this indicator.

Rules:

OBV > 0 line

Market should be considered bullish

OBV< 0 Market should be considered bearish

Moving Averages:

EMA 55 (YELLOW Line) as long OBV is above this EMA and the color is GREEN the market should be considered in trending mode.
Example:

EMA 55 could work as dynamic support and resistance
Example:

EMA 100 as long OBV is above this EMA the market should be considered in long term bullish y OBV is below this EMA (RED Cloud) the market in long term is bearish.
Example:

Divergences:
This indicator is very powerful showing less divergences if we compare this indicator with others that means less fake signals.

Yellow Bar:

This indicator is using Choppiness Index to determine if the market is getting ready to move. If you see a yellow bar you should be ready for a potential move. this bar will not tell you the direction.

This indicator is following the theory of OBV "Volume should follow the price"

Versionshinweise:

Added Volatility.

How to use:

Red:
High volatility (climax)
blue low volatility(price contracting)

Volatility is a key factor in my system of trading to determine explosive moves.

Versionshinweise:

Added gradients to identify better the trend
Added support for different moving averages
Now volatility is optional

Versionshinweise:

Fixed errors with colors
Improved configuration window now you can personalize the colors of this indicator
Changed for calculating the positive /negative line
Removed Long term EMA 100 *please add your custom ema if you need it