Improved On balance volume with BB channel and double MA

This is an improved version of the on balance volume indicator.

I made it inside a bollinger band channel, so we can define better the zones. At the same time I applied 2 moving averages on OBV, to get a better idea of the trend and at same time that change direction of the trend.

Green - > uptrend - > we look for buy positions
Red - > downtrend -> we look for sell positions.

At the same time we have to be aware of crosses on bollinger bands , which can indicate a change in the trend .
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.

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