[blackcat] L1 Vitali Apirine OBVM

8 mag 2022

Level 1

Background

Traders’ Tips of April 2020, the focus is Vitali Apirine’s article in the April issue, “On-Balance Volume Modified (OBVM)”.


Function
In “On-Balance Volume Modified (OBVM)” in this issue, author Vitali Apirine presents a new indicator called OBVM that is based on the classic on-balance volume indicator originally developed by Joe Granville. The author has smoothed the OBV calculation and has added a signal line to help the trader identify entry and exit points. Apirine also notes that the OBVM indicator is useful in helping to identify divergences.

Remarks

Feedbacks are appreciated.

19 apr

Note di rilascio

OVERVIEW
The [blackcat] L1 Vitali Apirine OBVM indicator is designed to help traders analyze volume trends using an enhanced version of the On-Balance Volume (OBV) called OBVM. This indicator calculates the OBVM and its corresponding signal line, providing visual cues through colored histograms and labels for potential buy and sell opportunities. It also includes alert functionality to notify users of these signals 📈💹.

FEATURES

Calculates On-Balance Volume Modified (OBVM) and its signal line.
Plots OBVM and signal lines with customizable lengths ⚙️.
Displays a colored histogram to visualize differences between OBVM and signal line:
Positive histogram bars indicate bullish momentum.
Negative histogram bars indicate bearish momentum.
Adds buy ('Buy') and sell ('Sell') labels on the chart for easy identification of trade signals 🏷️.
Generates alerts for crossover and crossunder events 🔔.
Supports customizable colors and styles for plotted elements 🎨.
HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Adjust the inputs for OBVM Length and Signal Line Length according to your preferences.
Monitor the chart for colored histogram bars and labeled buy/sell signals.
Set up alerts based on the generated signals to receive notifications when conditions are met 📲.
Use the indicator alongside other technical analysis tools for better decision-making.
LIMITATIONS

The indicator's effectiveness may vary depending on the asset and timeframe being analyzed.
False signals can occur in low-volume or highly volatile markets 🌪️.
Users should always confirm signals with other forms of analysis before entering trades.
NOTES

Ensure that you have sufficient historical data available for accurate OBVM calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance of the plotted elements as needed to suit your chart layout.