PROTECTED SOURCE SCRIPT
Updated Normalized OBV Zones
Normalized OBV Zones Indicator
Overview
The Normalized OBV Zones indicator is a sophisticated volume analysis tool that transforms the traditional On-Balance Volume (OBV) indicator into a normalized oscillator with clearly defined zones. This indicator helps traders identify accumulation and distribution phases in the market by analyzing volume flow patterns across different timeframes.
What is OBV?
On-Balance Volume (OBV) is a momentum indicator that uses volume flow to predict price changes. The indicator adds volume on up days and subtracts volume on down days, creating a running cumulative total that shows whether volume is flowing into or out of a security.
Key Features
Normalized 0-100 Scale
🎯 Five Distinct Market Zones
⏰ Adaptive Timeframe Settings
Automatically adjusts based on your chart timeframe
🎨 Visual Enhancements
More Info:
Overview
The Normalized OBV Zones indicator is a sophisticated volume analysis tool that transforms the traditional On-Balance Volume (OBV) indicator into a normalized oscillator with clearly defined zones. This indicator helps traders identify accumulation and distribution phases in the market by analyzing volume flow patterns across different timeframes.
What is OBV?
On-Balance Volume (OBV) is a momentum indicator that uses volume flow to predict price changes. The indicator adds volume on up days and subtracts volume on down days, creating a running cumulative total that shows whether volume is flowing into or out of a security.
Key Features
Normalized 0-100 Scale
- Converts raw OBV values into a consistent 0-100 range for easy interpretation
- Eliminates the need to deal with large, unwieldy OBV numbers
- Enables comparison across different assets and timeframes
🎯 Five Distinct Market Zones
- Extreme Accumulation (85-100): Strong institutional buying
- Accumulation (65-84): Moderate buying pressure
- Neutral (35-64): Balanced market conditions
- Distribution (15-34): Moderate selling pressure
- Extreme Distribution (0-14): Strong institutional selling
⏰ Adaptive Timeframe Settings
- Daily Timeframes: 50-period lookback (default)
- Weekly Timeframes: 21-period lookback (default)
- Monthly+ Timeframes: 9-period lookback (default)
Automatically adjusts based on your chart timeframe
🎨 Visual Enhancements
- Color-coded zones for instant market sentiment recognition
- Dashed middle line (50-level) for neutral zone identification
- Real-time zone display table showing current market state
- Customizable colors for all zones
More Info:
Release Notes
FixProtected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.