OPEN-SOURCE SCRIPT
On Balance Volume W Divergence
OBV With Divergence Indicator
A comprehensive On Balance Volume (OBV) indicator enhanced with divergence detection capabilities.
Key Parameters:
Pine Script®
Alert System:
- Bullish divergence alerts
- Bearish divergence alerts
- Customizable alert messages
Note: The indicator requires volume data to function properly and will display an error if volume data is not available.
A comprehensive On Balance Volume (OBV) indicator enhanced with divergence detection capabilities.
- Core Features:
- Classic OBV calculation with volume-based price movement tracking
- Advanced divergence detection system
- Multiple smoothing options for OBV
- Bollinger Bands integration
- Technical Components:
- Volume-based price movement analysis
- Pivot point detection for divergence
- Customizable lookback periods
- Adjustable divergence range parameters
- Customization Options:
- Multiple Moving Average types (SMA, EMA, SMMA, WMA, VWMA)
- Bollinger Bands with adjustable standard deviation
- Divergence sensitivity settings
- Visual customization for signals and alerts
The indicator combines traditional OBV analysis with modern divergence detection, offering traders a powerful tool for identifying potential trend reversals and market momentum shifts.
Alert System:
- Bullish divergence alerts
- Bearish divergence alerts
- Customizable alert messages
Note: The indicator requires volume data to function properly and will display an error if volume data is not available.
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.
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.
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.