Custom OBV with SMA and Signals

4 giorni fa

Key Features:
Custom OBV: This script calculates the On-Balance Volume (OBV) based on price movement and volume.
SMA on OBV: The script adds a Simple Moving Average (SMA) on top of the OBV line. The SMA period can be customized via the input parameter.
Background Shading: The background will change color when the OBV is above or below the SMA, providing visual clues for potential bullish or bearish conditions.
Green background indicates OBV is above the SMA (bullish).
Red background indicates OBV is below the SMA (bearish).
Usage:
When OBV is above the SMA: This suggests that volume is increasing in line with the price, which is typically considered bullish.
When OBV is below the SMA: This suggests that volume is decreasing or not confirming the price increase, which can be a bearish signal.
You can adjust the SMA period according to your preferences.

4 giorni fa

Note di rilascio

Background changes when the OBV is above/below SMA