OPEN-SOURCE SCRIPT

OBV+EMA Histogram

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Histogram of the difference between On Balance Volume and an EMA of the On Balance Volume (OBV + EMA).

Using a 55 EMA, on the daily timeframe of BTC, bull/bear trends occur when the histogram is above/below the zero line respectively.

Divergences also have a notable effect.

-- Added alert conditions when OBV crosses EMA to signal a possible trend change, for bullish and bearish cases.
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-- Added checkbox to select between EMA and SMA of OBV. The SMA noticeably produces a smoother histogram in some instances. On the BTC hourly (1H) chart using the 99 SMA setting looks nice at a quick glance.
alertDivergencehistogramOn Balance Volume (OBV)Volume

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