The “Smart Volume” developed by apozdnyakov is one of genius way to use multi time frame tool for a beneficiary purpose to improve resolution of value data instead of faking the backtest result. The standard volume data does not give detail information about seller or buyer dominance in the certain periods, so it is just sum of all trades. To improve it, the Smart Volume increases resolution of volume data by decreasing time periods, and recalculate seller and buyer dominant volumes separately.
The “smart Volume OBV OBVex” uses this valuable smart volume data to recalculate OBV and OBVex indicators. You can select Smart Volume, OBV, and OBVex separately. I added also an "Absolute" option in to the original Smart Volume section. I believe the Smart OBV and OBVex are more convergent to price movements to catch a fast return by suppressing manipulative volume actions. Do not forget to change resolution period of the indicator with a smaller value than our chart period.
The OBVex is a similar approach with "OBV exK" calculation of KIVANCfr3762.
This indicator is free to use, and the code is hidden. Please share your interesting experience this this indicator.
HikmetSezen @HikmetSezen58 on twitter.
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An optional TrendLine based on T3 smoothing for OBVex is added.
Much thanks in advance :)