venkys03

OBV with 100 EMA to ride a rally

Guys add this indicator to your trading setup and Long when OBV crosses up 100 EMA and vice versa, use this on higher time frames(H4 and above) for more reliability.
Don't blindly go with this alone. Use additional setups like trend lines and moving averages.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

i would love to know why this indicator don't have anymore love? it is awesome stuff, really. mainly if used on daily timeframe
+2 Reply
Great job, thx
+1 Reply
Hi Venky95,

Awesome creation, can we use this one with HMA and specifically for intraday!
Reply
venkys03 RanjitUlhe
@RanjitUlhe, not recommended. OBV is not a good idea for intraday. I suggest to use CPR indicator along with price action.
Reply
Thank you very much
Reply
Hi. Quick question. What advantages/disadvantages would there be to using a 200ema vs a 100ema, or even a 50? Many thanks in advance
Reply
@glhyne, 200 ema on the obv can be used to identify whether a 200 ema breakout on the price is legitimate or not. If both price and obv cross 200 ema at the same time, then you can make the trade. Try to backtest, this pattern is not so significant on the 100, but still, try to backtest on 100 ema and tell me the results
Reply
venkys03 glhyne
@glhyne, its better to go with either 100 EMA or 100 SMA. Also 50 EMA/MA can give false signals. 200 EMA/MA is lagging much.
Reply
undeclared identifier blue line 6
undeclared identifier black , line line 7
undeclared identifier p1 , p2 , red , green line 8
Reply
Excellent indicator Venky .... Thank you
Reply