OPEN-SOURCE SCRIPT
Anchored OBV
The On Balance Volume indicator (OBV) is used in technical analysis to measure buying and selling pressure.
It is a cumulative indicator meaning that on days where price went up, that day's volume is added to the cumulative OBV total.
If price went down, then that day's volume is subtracted from the OBV total.
The OBV value is then plotted as a line for easy interpretation.
On Balance Volume is primarily used to confirm or identify overall price trends or to anticipate price movements after divergences.
If On Balance Volume crosses over or under the zero line, it adds confluence to a bull/bear bias respectively.
Anchored On Balance Volume unlike traditional OBV, resets on your specified date and/or bar (clickable).
It is a cumulative indicator meaning that on days where price went up, that day's volume is added to the cumulative OBV total.
If price went down, then that day's volume is subtracted from the OBV total.
The OBV value is then plotted as a line for easy interpretation.
On Balance Volume is primarily used to confirm or identify overall price trends or to anticipate price movements after divergences.
If On Balance Volume crosses over or under the zero line, it adds confluence to a bull/bear bias respectively.
Anchored On Balance Volume unlike traditional OBV, resets on your specified date and/or bar (clickable).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.