Alternative OBV

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Alternative OBV

Postby Apprentice » Sat Feb 22, 2014 6:56 am

Alternative OBV.png


The classic formula
Close > previousClose
OBV = OBVprevious + VOLUME
Close < previousClose
OBV = OBVprevious - VOLUME
IF Close = previousClose
OBV = previousOBV

1. Alternative
(Close > Open)
OBV = previousOBV + (Volume* (Close-Open) / (High-Low));
(Close < Open)
OBV = previousOBV - (Volume * (Open-Close) / (High-Low));

2. Alternative
OBV= previousOBV + (Volume * (High-Open) / (High-Low)) - (Volume * (Open-Low) / (High-Low))

Alternative OBV.lua
(2.75 KiB) Downloaded 741 times



MT4/MQ4 version
viewtopic.php?f=38&t=70136
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Apprentice
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Re: Alternative OBV

Postby asedic » Thu Aug 06, 2015 3:32 pm

Hi Appretince, thanks for this indicator. I really appreciate your work.

Is it possible to make version of this indicator with option of choice of different data source? I would like to use this formula for analysis of some other active indicators?

Thanks.
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Re: Alternative OBV

Postby Apprentice » Wed Jul 19, 2017 8:23 am

The indicator was revised and updated.
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Re: Alternative OBV

Postby TastyTreats » Thu Jul 02, 2020 6:42 pm

Hi Apprentice

Is it possible to get this in MT4 flavour?

Thanks
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Re: Alternative OBV

Postby Apprentice » Fri Jul 03, 2020 4:20 am

Your request is added to the development list.
Development reference 1617.
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