MastersOfTrading

MoT - [Analyst] - OBV Traffic Lights

**THE INDICATOR**

An on-balance volume variation based on Heikin Ashi, plotted with our traffic light system to spot trends easily.

**THE CHART**

AUDNZD on the 4HR Time Frame


**ON THE CHART INDICATORS**

- In the Top Panel we have this Indicator, our version of On-Balance Volume based on Heikin-Ashi Candles

- On the Chart we have Berlin Candles which is our unique take on a mix between normal candles, Heikin Ashi candles all while retaining the essential data.

- Also on the chart we have our ATR-filtered Exponential Moving Average . It either plots further away from price or closer to price, the higher or lower the current ATR is compared to recent history.

- In the Bottom Panel we have our action locator tool which is also extremely powerful at identifying ranging markets and trends.


**MASTERS OF TRADING**

Many Thanks and Trade Safe!
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.

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