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jsalemfinancial

Custom OBV Oscillator

jsalemfinancial  
On Balance Volume (OBV) Oscillators
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onbalancevolume oscillator
This is a modified OBV indicator that creates an oscillator by smoothing the difference between the value of the OBV and a short moving average of the OBV. SMAs of the oscillator are also provided to study crosses and convergence/divergence.

The indicator should mostly be used on common stock, but works on futures contracts with some tuning and a shorter timeframe.
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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