Triple OBV

The on-balance volume (OBV) is a momentum indicator reflecting the volume inflow or outflow based on the price changes. Here I further develop this indicator as a triple OBV indicator, in which I apply obv10, obv20, and obv40 as the short-, intermediate-, and long-term OBVs.

To better visualize the triple OBV movement, three OBV lines are colored-coded based on the trends (uptrend: blue; no trend: gray; downtrend: red). Also, I use obv180 as a noise filter to show the reversal signals. Note that for any given trend reversals, three OBV lines must go through a convergent phase.