OPEN-SOURCE SCRIPT
On Balance Volume (CCI-coded) [Krypt]
Updated
This is a straightforward modification of LazyBear's CCI-coded OBV indicator with the following changes:
1) uses log-hl2 as source, which seems to be a more stable indicator of price change than close
2) adds optional price smoothing
1) uses log-hl2 as source, which seems to be a more stable indicator of price change than close
2) adds optional price smoothing
Release Notes
add comments, change study title, and update chartOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
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