On Balance Volume Disparity Indicator by cheatcountry

volumestudies volume onbalancevolume obvoscillator disparity disparityindex obvdivergence obvema

The On Balance Volume Disparity Indicator was created by Phillip C. Holt (Stocks & Commodities V. 14:6 (265-269)). This converts the classic OBV indicator into Bollinger Bands and calculates the percentage of where the value lies within the Bollinger Bands. Buy when the obvdi rises above its signal line and sell when it falls below the signal line.

This was a special request so let me know what other indicators you would like me to write scripts for!

Release Notes:

I changed the charts

Release Notes:

changed the signal length

Release Notes:

changed to make it more understandable

Release Notes:

Allowed someone to change the top and bottom guide and changed the signals to buy or sell when obvdi goes above the top or falls below the bottom

Release Notes:

changed the signal to sma and default length to 4

Release Notes:

Finalized the buy and sell signals

Release Notes:

fixed small typo

Release Notes:

changed to match my other indicators

Release Notes:

fixed issue with default resolution

I created the largest stock indicator library:
github.com/ooples/

Custom Indicator Requests:
forms.gle/ouMffZR3dQ8bSJQG7

Tips are appreciated:
paypal.me/cheatcountry
patreon.com/cheatcountry

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.

Disclaimer

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?