gb50k

Price vs Vol

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Improved version of OBV/price (this one actually works)
Both lines show where price is going relative to volume metrics (one line uses OBV, the other uses accumulation/distribution ).

Green and above 50 means price is rising faster then buying volume
Red and below 50 means price is falling faster then selling volume

you can add smoothing in the controls and color will go according to raw (even if smoothing goes above/below 50)

under the hood: changes price, OBV and AD to RSI for comparability, calculates the difference between price and the others, then an RSI on the result to create an <50< style indicator.


snapshot

this script replaces the previouse from:
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study(title="Price vs Vol", shorttitle="Price vs Vol")
r=input(50,"rsi")

e=input(1,"ema")
src = close //ohlc4
obv = cum(change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume)
ad = cum(close==high and close==low or high==low ? 0 : ((2*close-low-high)/(high-low))*volume)


rad=rsi(ad,r)
robv=rsi(obv,r)
rsrc=rsi(src,r)
diffobv=rsi(rsrc-robv,r)
diffad=rsi(rsrc-rad,r)
//plot(robv, color=blue, title="RSI_OBV")
//plot(rsrc, color=red, title="RSI_Price")



c1 = iff(diffobv >= 50, green, red)  // close >= open ? yellow : blue
c2 = iff(diffad >= 50, green, red)  // close >= open ? yellow : blue

plot(ema(diffobv,e), color=c1, linewidth=2, title="price-obv")
plot(ema(diffad,e), color=c2, linewidth=2, title="price-ad")
hline(50)




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