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PeakFox
7 lug 2022 20:21

OBV with Volume/Momentum Divergence 

Bitcoin / TetherKuCoin

Descrizione

Credits go to vyperphi696 and LazyBear for the original OBV with Divergence script.

This indicator has the new option to check for momentum divergence, which I have done by adding RSI and MACD data.
Hence the indicator allows combined testing of volume and momentum divergence. This feature aims to improve trend reversal detection by reducing false positives.

In summary, 3 divergence categories are shown by default as lines:
  • Volume + RSI + MACD (dark green/red)
  • Volume + RSI / Volume + MACD (light green/red)
  • Volume (gray)


Line colors can be adjusted via plot settings. Therefore it is also possible to distinguish Volume + RSI and Volume + MACD divergence if necessary.

Lastly, I edited the indicator scaling mechanism when changing from one timeframe to another; the transitions are smoother now. This only applies when auto-scaling is off.
Commenti
sunilthakre1959
Are the labels plotted on real time sir.
PeakFox
@sunilthakre1959 Hi, labels and lines are plotted shortly after the real time bar. This makes the divergence points more reliable.
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