The On Balance Volume indicator (OBV) is used to measure buying and selling pressure.
It is a cumulative indicator meaning that on days where price went up, that day's volume is added to the cumulative OBV total. If price went down, then that day's volume is subtracted from the OBV total.
The OBV value is then plotted as a line for easy interpretation. OBV is primarily used to confirm or identify overall price Trends or to anticipate price movements after Divergences.
In addition to OBV, EMA and SMA are included. the EMA is used for Support and Resistances for the OBV. and the SMA is used by its Slope (can be S/R as well).
It is a cumulative indicator meaning that on days where price went up, that day's volume is added to the cumulative OBV total. If price went down, then that day's volume is subtracted from the OBV total.
The OBV value is then plotted as a line for easy interpretation. OBV is primarily used to confirm or identify overall price Trends or to anticipate price movements after Divergences.
In addition to OBV, EMA and SMA are included. the EMA is used for Support and Resistances for the OBV. and the SMA is used by its Slope (can be S/R as well).
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Added Divergences Lines on the OBV Line.
(The Divergence Must be Confirmed First on the Price Action / Local Low or Local High Confirmation)
Green = Regular Bullish Divergence
Red = Regular Bearish Divergence
Aqua = Hidden Bullish Divergence
Purple = Hidden Bullish Divergence
(The Divergence Must be Confirmed First on the Price Action / Local Low or Local High Confirmation)
Green = Regular Bullish Divergence
Red = Regular Bearish Divergence
Aqua = Hidden Bullish Divergence
Purple = Hidden Bullish Divergence
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Bug Fixes.
เอกสารเผยแพร่:
Removed the Update
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Added Smoothing.
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Code Tweak.
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Updated Code.
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Updated to v5 Pinescript.
Without Risk and Position Management, You WILL Lose Money.