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Modified OBV w/ Divergence Detection by Cryptorhythms

Apirine OBV-M Modified OBV w/ MA Selection by Cryptorhythms

Intro

Released in the April 2020 issue of TASC, and created by Vitali Apirine.

Description

OBV-M is of course based on the classic indicator on balance volume originally developed by Joe Granville. Apirine then smooths the calculation and adds a signal line to help denote entry and exit points.

As the author points out uts also great at showing divergences!

Extras
As usual when porting indicators to the library here on tradingview, I like to add some extra flare!

💠MA selection to allow you to experiment with alternate settings
💠Bar coloration based on trade state for easy visual at a glance chart checking
💠Divergence Detection and plotting thanks for Ricardo Santos' script

Enjoy!
👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 78th script on Tradingview!