OPEN-SOURCE SCRIPT
OBV Z-Score + Table
📘 OBV Z-Score — Indicator Description
Overview
This indicator converts the On-Balance Volume (OBV) into a Z-Score oscillator, providing a normalized statistical view of volume flow strength relative to its recent history.
How It Works
OBV Calculation
The On-Balance Volume accumulates volume based on price direction, showing whether volume is flowing into or out of an asset.
Z-Score Transformation
The OBV values are normalized via Z-Score:
ini
Kopieren
Bearbeiten
Z = (OBV - Mean) / Standard Deviation
This reveals how unusually strong or weak volume momentum is compared to recent norms.
Smoothing
An optional moving average smoothing (SMA, EMA, VWMA, etc.) can be applied for cleaner signals.
Z-Score Table
A live Z-Score value is displayed in a table on the top-right of the indicator pane, clamped between +2 and -2:
+2 indicates unusually high positive volume momentum
-2 indicates unusually high negative volume momentum
How to Use It
Bullish Signal: Z-Score crossing above +1.5 or +2 signals strong buying volume pressure
Bearish Signal: Z-Score crossing below -1.5 or -2 signals strong selling volume pressure
Combine with Price Action: Use alongside price trends or other Z-Score indicators to improve decision making in SDCA or volume-based trading systems
Overview
This indicator converts the On-Balance Volume (OBV) into a Z-Score oscillator, providing a normalized statistical view of volume flow strength relative to its recent history.
How It Works
OBV Calculation
The On-Balance Volume accumulates volume based on price direction, showing whether volume is flowing into or out of an asset.
Z-Score Transformation
The OBV values are normalized via Z-Score:
ini
Kopieren
Bearbeiten
Z = (OBV - Mean) / Standard Deviation
This reveals how unusually strong or weak volume momentum is compared to recent norms.
Smoothing
An optional moving average smoothing (SMA, EMA, VWMA, etc.) can be applied for cleaner signals.
Z-Score Table
A live Z-Score value is displayed in a table on the top-right of the indicator pane, clamped between +2 and -2:
+2 indicates unusually high positive volume momentum
-2 indicates unusually high negative volume momentum
How to Use It
Bullish Signal: Z-Score crossing above +1.5 or +2 signals strong buying volume pressure
Bearish Signal: Z-Score crossing below -1.5 or -2 signals strong selling volume pressure
Combine with Price Action: Use alongside price trends or other Z-Score indicators to improve decision making in SDCA or volume-based trading systems
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.