LazyBear

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 :)

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)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

ChrisMoody PRO
2 years ago
Like it...Good Job
+1 Reply
LazyBear PRO ChrisMoody
2 years ago
Thanks.
+2 Reply
SunnyBTC PRO
2 years ago
Yup very sexy idea :)
+1 Reply
LazyBear PRO SunnyBTC
2 years ago
:)
+1 Reply
MikeBurnsFL LazyBear
a year ago
cant get it to load in think or swim ??
Reply
This one does not load correctly for some reason
+1 Reply
LazyBear PRO QuantitativeExhaustion
2 years ago
Is it throwing an error or simply showing "loading...."?

This morning I had issues loading custom indicators. TV server update?
+1 Reply
LazyBear PRO
2 years ago
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.

snapshot
+1 Reply
oye LazyBear
2 years ago
i am currently on trial. This indi pane is blank
Reply
oye oye
2 years ago
ignore this. Got it! Thanks
Reply
decameca PRO
2 years ago
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.
Reply
ZachHoy
2 years ago
Works for me! A good addition to regular OBV.
Reply
stock1111
2 years ago
Hi Lazy

will this work for forex?
Reply
LazyBear PRO stock1111
2 years ago
Volume is not exposed for FX. Works with futures, though.
Reply
gb50k PRO
2 years ago
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.
Reply
LazyBear PRO gb50k
2 years ago
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
Reply
MikeBurnsFL
a year ago
cant get it to load in think or swim ??
Reply
SunnyBTC PRO MikeBurnsFL
a year ago
it's written in pine script - tradingview's own scripting language ;)
Reply
pablobar PRO
8 days ago
I like your indicator. I'm beginning to use it. How it works for ES_F?
Thanks
Reply
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