Everyone uses OBV, right? This indicator makes it easy to read it by building an oscillator out of it.
Also, now look for OBV divergences easily :)
Appreciate any comments / thoughts.
Also, now look for OBV divergences easily :)
Appreciate any comments / thoughts.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
// // @author LazyBear // // Appreciate a note if you use this code anywhere. // study(title="On Balance Volume Oscillator [LazyBear]", shorttitle="OBVOSC_LB") src = close length=input(20) obv(src) => cum(change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume) os=obv(src) obv_osc = (os - ema(os,length)) obc_color=obv_osc > 0 ? green : red plot(obv_osc, color=obc_color, style=line,title="OBV-Points", linewidth=2) plot(obv_osc, color=silver, transp=70, title="OBV", style=area) hline(0)
