LazyBear

Indicator: CCI coded OBV

10133 21 2993
OBV is colored green if CCI > threshold, red if CCI < threshold.

Both "threshold" and "CCI Length" can be customized using the options page.

Indicator also displays a 13EMA (length can be changed) over OBV.
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// 
// @author LazyBear
// 
study("CCI coded OBV", shorttitle="CCIOBV_LB")
src = close
length = input(20, minval=1, title="CCI Length")
threshold=input(0, title="CCI threshold for OBV coding")
lengthema=input(13, title="EMA length")
obv(src) => 
    cum(change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume)
    
o=obv(src)
c=cci(src, length)
plot(o, color=c>=threshold?green:red, title="OBV_CCI coded", linewidth=2)
plot(ema(o,lengthema), color=orange, linewidth=2)
Thanks for this. Just wondering when one would change the threshold value? What does the threshold value represent? Thank you.
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Thank you Lazybear! I found a good explanation on how to use CCI to take trades so I thought I would share it. https://youtu.be/IJ9I_5M6SUM
+3 Reply
Amazing indicator, genius. I started demo trading 3 months ago and have lost 5k all in all so doing pretty poorly

This indicator is a game changer allied to a few others yes but this is key. Have suddenly become consistently profitable

I doff my hat to you lazy bear
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Does this indicator only work with BTCUSD?

I can't seem to get it working with any other data :/
Reply
LazyBear Sora0102
OBV needs volume. May be you tried it on FX? If problem still persists, can you post a chart? Thx.
Reply
Sora0102 LazyBear
(I deeply apologize for late response.)


This is what the chart looks like when I used it on a EUR/USD 3 minute chart.


This is GBP/USD in another time frame
Reply
LazyBear Sora0102
TV doesn't expose FX volume. Only instruments with volume will work.
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@LazyBear Just trying to understand better how this is working. Since OBV depends on the start date - when does tradingview start calculating the OBV when you use this code? From the beginning of the data it has? A month back? Thanks!
Reply
LazyBear sungkhum
It starts calculation from the first data item in the series. So, for BTCUSD, BITSTAMP has more data than OKCOIN, for ex.,

Function of interest in this script is obv(src).
Reply
sungkhum LazyBear
Thanks!
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