OPEN-SOURCE SCRIPT
On Balance Volume HLOC with Average
I am playing OBV now.
The original OBV is only calculate CLOSE.
I got an idea about XOBV with HLOC.
A bar has 5 periods:
- Open--Low--Open--Close--High--Close or
- Open--High--Open--Close--Low--Close
Assume that volume will evenly distributed on these 5 periods. Only Open--Close period has effective changed volume.
So XOBV = OBV * abs(close-open)/(2*(high-low)-abs(close-open)))
Better use XOBV and OBV both. Divergence and same price comparison are worth to watching.
The original OBV is only calculate CLOSE.
I got an idea about XOBV with HLOC.
A bar has 5 periods:
- Open--Low--Open--Close--High--Close or
- Open--High--Open--Close--Low--Close
Assume that volume will evenly distributed on these 5 periods. Only Open--Close period has effective changed volume.
So XOBV = OBV * abs(close-open)/(2*(high-low)-abs(close-open)))
Better use XOBV and OBV both. Divergence and same price comparison are worth to watching.
Script de código aberto
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遁一子交易入道 jesselau.com/
Aviso legal
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.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
遁一子交易入道 jesselau.com/
Aviso legal
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.