OBV with Don Chain Channel

### OBV with Don Chain Channel (Enhanced) — Indicator Description

**OBV with Don Chain Channel** is a volume-based momentum indicator that combines **On-Balance Volume (OBV)** with a **Donchian-style High/Low channel** and **automatic divergence detection** to highlight potential breakout strength and early reversal signals.

It plots OBV in a separate pane with dynamic color, draws an OBV channel using recent highs/lows, and marks key events (channel breakouts + divergences) with clear visual cues and alert support.

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## What it shows

### 1) OBV Line (Color-Coded Momentum)

* **Green** when OBV is rising
* **Red** when OBV is falling
* **Gray** when OBV is flat
This helps you instantly read volume pressure behind price movement.

### 2) Donchian-Style OBV Channel (High/Low Bands)

* **OBV High** = highest OBV over the selected lookback
* **OBV Low** = lowest OBV over the selected lookback
This creates a clean “range” for OBV, making breakouts easy to spot.

### 3) Breakout Signals (Above/Below Channel)

* **Breakout High**: OBV crosses **above** the previous channel high → often signals strong accumulation / momentum confirmation.
* **Breakout Low**: OBV crosses **below** the previous channel low → often signals distribution / weakness confirmation.

Breakouts are shown using:

* Marker circles positioned relative to the channel (not stuck at pane extremes)
* Optional background highlight for visibility
* Built-in alerts

### 4) OBV EMA Trend Filter

An optional **EMA of OBV** helps identify the underlying OBV trend:

* OBV above EMA → bullish bias
* OBV below EMA → bearish bias

### 5) Divergence Detection (Pivot-Based)

The script detects divergences using pivot swings on both **price** and **OBV**:

* **Bullish Divergence**: Price makes a **lower low**, OBV makes a **higher low** → possible reversal/strength building.
* **Bearish Divergence**: Price makes a **higher high**, OBV makes a **lower high** → possible exhaustion/weakening.

Signals are labeled as:

* **“Bull”** (green)
* **“Bear”** (red)

A “max bars between pivots” setting helps filter out weak / irrelevant divergence pairs.

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## Info Table (Top-Right)

A compact table shows at a glance:

* Current **OBV**
* **OBV EMA**
* Whether OBV is **Inside / Above / Below** the channel
* Current OBV trend bias (**Bullish/Bearish** vs EMA)

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## Alerts Included

You can create TradingView alerts for:

* OBV Breakout High
* OBV Breakout Low
* Bullish Divergence
* Bearish Divergence
* Any signal (combined)

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## Inputs (Quick Guide)

* **OBV EMA Length**: Smoothing for trend bias
* **OBV High/Low Lookback**: Channel sensitivity (lower = more signals, higher = fewer)
* **Pivot Lookback**: Divergence swing sensitivity
* **Max Bars Between Pivots**: Divergence strictness
* **Channel Fill + Transparency**: Visual styling

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### Notes / Disclaimer (recommended for publishing)

This indicator is designed for **analysis and confirmation**, not as a standalone trade system. Always combine with price structure, risk management, and market context.

If you want, I can also write a shorter “TradingView store style” description (2–4 lines) + a clean bullet list for the publish page.