OBV (Delta or regular)

vor 11 Stunden

This is a quite simple script to apply some choices to OBV.

• You can choose to use regular OBV values or you can choose to use delta OBV values.
  Delta OBV values calculates the delta between selling volume and buying volume per bar to find discrepancies.
  
• You can make the OBV a smoothed line or just keep the normal rigid line. Rigid line is default.
  
• A secondary smoothed OBV line is added automatically with color change if the OBV is above or below the smoothed line.
  
• You can set your desired MA from SMA, EMA, VWMA and WMA, The same will be applied to both lines if chosen to smooth them both.
  
• Both lines are editable from the styles tab (visibility, color and line type)
  If you for some reason don't want color change on the secondary line, chose the same color for both color 1 and 2.
  

Simple delta OBV example:
If a red bar has a long lower wick, OBV will calculate the entire bar towards bearish volume, while the delta will check if there's more buying or selling happening in total. Some times you'll be able to catch divergences in the volume which implies a reversal might be in the making.
For instance more selling on a green candle making the OBV drop instead of increasing or vise versa.

Hopefully someone finds is useful.

vor 11 Stunden

Versionshinweise

This is a quite simple script to apply some choices to OBV.

• You can choose to use regular OBV values or you can choose to use delta OBV values.
  
• Delta OBV values calculates the delta between selling volume and buying volume per bar to find discrepancies.
  
• You can make the OBV a smoothed line or just keep the normal rigid line. Rigid line is default.
  
• A secondary smoothed OBV line is added automatically with color change if the OBV is above or below the smoothed line.
  
• You can set your desired MA from SMA, EMA, VWMA and WMA, The same will be applied to both lines if chosen to smooth them both.
  
• Both lines are editable from the styles tab (visibility, color and line type)
  If you for some reason don't want color change on the secondary line, chose the same color for both color 1 and 2.
  

Simple delta OBV example:
If a red bar has a long lower wick, OBV will calculate the entire bar towards bearish volume, while the delta will check if there's more buying or selling happening in total. Some times you'll be able to catch divergences in the volume which implies a reversal might be in the making.
For instance more selling on a green candle making the OBV drop instead of increasing or vise versa.

Hopefully someone finds is useful.