Improved On balance volume with BB channel and double MA — Indicator by SoftKill21

bollingerbands simplemovingaverage onbalancevolume green red uptrend downtrend improvement

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 .

My website: www.atraderlife.com/

Telegram group: t.me/atrader_life

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Open-source script

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