On Balance Volume Disparity Indicator

The On Balance Volume Disparity Indicator was created by Phillip C. Holt (Stocks & Commodities V. 14:6 (265-269)). This converts the classic OBV indicator into Bollinger Bands and calculates the percentage of where the value lies within the Bollinger Bands. Buy when the obvdi rises above its signal line and sell when it falls below the signal line.

This was a special request so let me know what other indicators you would like me to write scripts for!

Release Notes

I changed the charts

Release Notes

changed the signal length

Release Notes

changed to make it more understandable

Release Notes

Allowed someone to change the top and bottom guide and changed the signals to buy or sell when obvdi goes above the top or falls below the bottom

Release Notes

changed the signal to sma and default length to 4

Release Notes

Finalized the buy and sell signals

Release Notes

fixed small typo

Release Notes

changed to match my other indicators

Release Notes

fixed issue with default resolution

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

cheatcountry

I created the largest stock indicator library:
github.com/ooples/

Custom Indicator Requests:
forms.gle/ouMffZR3dQ8bSJQG7

Tips are appreciated:
paypal.me/cheatcountry
patreon.com/cheatcountry

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.