OPAL - Libra

I publish my OBV script for Volumes analysis & Volumes switch spotting.

This indicator include : On Balance Volumes, 6 EMAs based on Volumes, Regular and Hidden divergences with double pivot confirmation
OBV Colors is gradient : momentums with power will turn to lighter colors, momentums without power will turn to darker colors

1) OBV : On Balance Volumes
On-balance volume (OBV) is a form of technical analysis which enables traders to make predictions about future price movements based on the asset’s previous trading volume
OBV is mostly used in shares trading, because the volume has an especially large influence on the way share prices move
Trading volume is the amount that an asset has been traded during a given time period
Traders who use OBV believe that a sharp increase in trading volume , without a reciprocal increase in the asset’s price, will cause the market price to suddenly increase or decrease

Calculation :
OBV is a cumulative result, which means that it is effectively a running total of an asset’s trading volume
The OBV is the total volume , and it accounts for both positive and negative changes in an asset’s trading volume

2) EMAs & Cloud :
A bunch of 6 EMAs adapted on volumes, the last of the 6 EMAs ( EMA 6) forms a colored cloud with the OBV Line
EMA 1 is the first filter for OBV colors
EMA6 is the last filter for OBV colors

3) Multi Divergences :
Divergence detection based on 2 pivot levels verification (taken from OPAL - Newton)
Plots Regular and Hidden Divergences
Filtered with EMA 6

4) Alerts:
Set alerts on Divergences, regular, hidden, or both
Set alerts on OBV fast Crosses with EMA 1
Set alerts on OBV slow Crosses with EMA 6

This might help you to see OBV (volumes) movements clearly, that is not a bounded indicator like RSI or stoch's
Stick with the trends)
Everything is customizable, all the settings are unlocked

Wishing you success !

Notes de version: Options optimizations, should now scale with Omni indicator
add OBV thickness settings
add Coloration presets
reduce trackline
Notes de version: tooltip+
Script protégé
Ce script est publié en code source fermé et vous pouvez l'utiliser librement. Vous pouvez le préférer pour l'utiliser sur un graphique. Vous ne pouvez pas visualiser ou modifier son code source.
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