OPEN-SOURCE SCRIPT
Updated OBV+EMA Histogram
Histogram of the difference between On Balance Volume and an EMA of the On Balance Volume (OBV + EMA).
Using a 55 EMA, on the daily timeframe of BTC, bull/bear trends occur when the histogram is above/below the zero line respectively.
Divergences also have a notable effect.
-- Added alert conditions when OBV crosses EMA to signal a possible trend change, for bullish and bearish cases.
Using a 55 EMA, on the daily timeframe of BTC, bull/bear trends occur when the histogram is above/below the zero line respectively.
Divergences also have a notable effect.
-- Added alert conditions when OBV crosses EMA to signal a possible trend change, for bullish and bearish cases.
Release Notes
-Release Notes
-- Added checkbox to select between EMA and SMA of OBV. The SMA noticeably produces a smoother histogram in some instances. On the BTC hourly (1H) chart using the 99 SMA setting looks nice at a quick glance.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.