Improved On balance volume with BB channel and double MA

This is an improved version of the on balance volume indicator.

I made it inside a bollinger band channel, so we can define better the zones. At the same time I applied 2 moving averages on OBV, to get a better idea of the trend and at same time that change direction of the trend.

Green - > uptrend - > we look for buy positions
Red - > downtrend -> we look for sell positions.

At the same time we have to be aware of crosses on bollinger bands, which can indicate a change in the trend .

My website:

Telegram group:

BTC: 347p8NNwnHmAUfyJXWaeLUgrpHwthmr5UP

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.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?