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Indicator: OBV Oscillator

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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 :)

```//
// @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)
```
Like it...Good Job
ChrisMoody
Thanks.
Yup very sexy idea :)
SunnyBTC
:)
LazyBear
cant get it to load in think or swim ??
This one does not load correctly for some reason
QuantitativeExhaustion

Here's a real world usecase for OBV osc over plain OBV. Observe how the divergences are called clearly on the oscillator, in addition to showing the state of OBV.

LazyBear
i am currently on trial. This indi pane is blank
oye
ignore this. Got it! Thanks
This is great. I'm just learning about OBV. Is there any way to visually enhance its trend divergence from price itself? How can we get a chart to scream "bullish divergence!" more easily? I know that one of the problems is that intervals are arbitrary.
Works for me! A good addition to regular OBV.
Hi Lazy

will this work for forex?
stock1111
Volume is not exposed for FX. Works with futures, though.
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.
gb50k
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)

LazyBear
@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)?
cant get it to load in think or swim ??
MikeBurnsFL
it's written in pine script - tradingview's own scripting language ;)
I like your indicator. I'm beginning to use it. How it works for ES_F?
Thanks
Man, this looks unbelievable really! Thanks a lot!
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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