LazyBear

Indicator: OBV Oscillator

Everyone uses OBV, right? This indicator makes it easy to read it by building an oscillator out of it.

Also, now look for OBV divergences easily :)

Appreciate any comments / thoughts.
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//
// @author LazyBear
// 
// Appreciate a note if you use this code anywhere. 
// 
study(title="On Balance Volume Oscillator [LazyBear]", shorttitle="OBVOSC_LB")
src = close
length=input(20)
obv(src) => cum(change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume)
os=obv(src)
obv_osc = (os - ema(os,length))
obc_color=obv_osc > 0 ? green : red
plot(obv_osc, color=obc_color, style=line,title="OBV-Points", linewidth=2)
plot(obv_osc, color=silver, transp=70, title="OBV", style=area)
hline(0)
This is awesome thanks. What does it mean when the line color changes but the line has not yet crossed over zero?
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Man, this looks unbelievable really! Thanks a lot!
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I like your indicator. I'm beginning to use it. How it works for ES_F?
Thanks
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cant get it to load in think or swim ??
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SunnyBTC MikeBurnsFL
it's written in pine script - tradingview's own scripting language ;)
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thanks was looking for general OBV script.
My own plan is to wrap the OBV in an RSI and then compare to RSI for price.
I simply want to bound the range...sounds like RSI is the way to go.
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YW. I agree with the idea to look for RSIOBV/RSI confluence, I tried it once, may be time to revist :) Here's RSIOBV (bottom pane) compared to RSI (middle pane)

snapshot
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@LazyBear, Hi LazyBear, do you have an indicator published for RSIOBV? Also, regarding the OBV Oscillator, do you recommend getting in and out of positions upon color change (from red to green or green to red)?
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Hi Lazy

will this work for forex?
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LazyBear PRO stock1111
Volume is not exposed for FX. Works with futures, though.
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