Volume Based Momentum

This is a volume based momentum indicator that should be used to spot regular and hidden divergences. This has some similarities to OBV, but it is not OBV and should be treated uniquely.

Input selections are 1-5, a higher number is better on a lower timeframe. When viewing daily or weekly, you should probably be on 1. When viewing timeframes such as 15 minute, 4 is most likely sufficient.

Release Notes

Update includes an "Auto" selection for a better fit on different timeframes, but I still recommend referencing the other plot selection settings.

Also added the ability to view the OBV plot if you want to reference OBV at any time.

Release Notes

Corrected Titles for Plots

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact ThePuma directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Warning: please read our guide for invite-only scripts before requesting access.

ThePuma

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