TA-Money Flow-Version4 — Indicator by kocurekc

onbalancevolume bollingerbands keltnerchannels squeezemomentum

Updated for TV-Pine V4

This is the MACD of a stochastic OBV movement indicator and now the MACD of the Squeeze Momentum Indicator. It is good (right) to work with both price and volume...it is also good to utilize the most popular indicator ever in TV (Lazybear).

I've included highlighting based on price divergence, yellow is divergence of either OBV or SQZ, red is both divergence, and then I've also built in the "squeeze on - blue" highlighting to show follow through of divergence. It works great on any time frame, but you need to have volume data. Not sure where I originally got this (stoch-OBV, somewhere off Tradingview several years ago, thanks to the person who shared), Squeeze is Lazybear, links below.

Enjoy.

Version 4:
Updated OBV equation because TV-Pine V3 broke in V4
Included MACD of Squeeze for histogram
Included "squeeze on" highlighting

TA-Money-Flow-Version3
TA-Money-Flow-Version2
Squeeze-Momentum-Indicator-LazyBear

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.

Disclaimer

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