CCI Extreme and OBV Divergence — Indicator by CooperHoang

This is my second set of two indicators combined utilize Multi time frame analysis of 5 minutes and 15 minutes.

CCI:

Green = uptrending
Red = downtrending

Bright Green = overbought, look to go SHORT
Bright Red = oversold, look to go LONG

OBV:

this use to predict the market direction buy drawing trend line.

It is also very good indicator to sport Smart Money moment. When price move higher but OBV trend lower, smart money is taking profit and reversing their position, look to go Short to you spot this type of divergence.

Also else already not there is no holy grail indicator so I also use this set of indicator to improve the signal

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.

Disclaimer

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Want to use this script on a chart?

study(title="Commodity Channel Index", shorttitle="CCI & OBV")
length = input(20, minval=1)
src = input(close, title="Source")
ma = sma(src, length)
cci = (src - ma) / (0.015 * dev(src, length))

length1 = input(60, minval=1)
ma1 = sma(src, length1)
cci1 = (src - ma1) / (0.015 * dev(src, length1))

length2 = input(240, minval=1)
ma2 = sma(src, length2)
cci2 = (src - ma2) / (0.015 * dev(src, length2))

bgUp  = (cci < 0 and cci1 < 0) ? red : na
bgDown =(cci > 0 and cci1 > 0) ? green : na

bgUp1  = (cci1 < -200 and cci < -200) ? red : na
bgDown1 = (cci1 > 200 and cci > 200) ? green : na

bgcolor (bgUp, transp=60)
bgcolor (bgDown, transp=60)
bgcolor (bgUp1, transp=0)
bgcolor (bgDown1, transp=0)

src1 = close
obv = cum(change(src1) > 0 ? volume : change(src1) < 0 ? -volume : 0*volume)
plot(obv, color=blue, title="OBV")