A combination of "On Balance Volume (OBV)" and "Volume Oscillator". "OBV Momentum" is a trend momentum indicator, that can be used to identify strong trends and also trend changes based on volume. High positive values indicate strong volume on the buy side, high negative values indicate strong volume on the sell side. An increasing OBV momentum indicates a strengthening buy trend or a weakening sell trend, decreasing OBV Momentum indicates a strengthening sell trend or weakening buy trend. OBV Momentum is calculated by comparing a short vs. a long moving average and plotting the difference in volume. OBV Momentum metric is absolute volume.
Release Notes
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Minor changes.
Release Notes
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+ Added more shades of green and red to indicate trend strength. + Added buy and sell labels. + Added buy and sell alerts.
** Attention ** Buy and Sell alerts/ labels no not consider absolute trend strength, that is the relative hight of the bar compared to previous bars. The higher the bar, the more confidence the signal has.