OPEN-SOURCE SCRIPT
Variance of OBV
IDEA is to easily spot the length of a calm periods based on OBV.
Some says that after a longer OBV-calm (but not supercalm) period up or down rallies are somewhat more likely)
METHOD: variance of OBV
ADVISE: cannot be used on its own, just with others (RSI, CCI, Coppock, MACD etc.)
Period shall be adjusted to the market.
PERSONAL: I also use it to evaluate how long an uptrend/downtrend is "normal" and when it is a "changer".
Also to see if a market is too flat. (No changes in flat periods is also not a good sign for me)
Also to evaluate magnitude of bursts.
Have fun, use stops, avoid FOMO and comments welcome!
Some says that after a longer OBV-calm (but not supercalm) period up or down rallies are somewhat more likely)
METHOD: variance of OBV
ADVISE: cannot be used on its own, just with others (RSI, CCI, Coppock, MACD etc.)
Period shall be adjusted to the market.
PERSONAL: I also use it to evaluate how long an uptrend/downtrend is "normal" and when it is a "changer".
Also to see if a market is too flat. (No changes in flat periods is also not a good sign for me)
Also to evaluate magnitude of bursts.
Have fun, use stops, avoid FOMO and comments welcome!
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.
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.
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.