Adjusted OBV

2023년 5월 8일

This script shows On-Balance Volume adjusted for volume weighted candle body size.

This means that the wick lengths, body length, and sell/buy pressure are calculated into percentages of volume that contributed to each.

The body volume is the accumulatively tracked across candles to give a more accurate On-Balance Volume that has been traded to achieve the current price over time.

The script output is in Orange and for comparison the original technical OBV is in Blue.

As this is my first script, I hope to update it to include a 'buy' and 'sell' pressure gauge to perhaps turn this from a mere indicator into potentially a bit more predictive.

In the meantime, it should be useful for tracking OBV for other uses in a more accurate and less volatile way.

2024년 9월 9일

릴리즈 노트

Added Title's to plots.

6월 9일

릴리즈 노트

Now ignoring the last minute of the main session.ismarket due to various rebalancing activities by market makers skewing the OBV.

i.e. on Quad Witching, most noticeably on most tickers, but practically every day on tickers with high fails to deliver etc.

6월 9일

릴리즈 노트

Converted to version 6, tidied up new logic from previous update to fix a bug where either entire post market was ignored or only the current post market opening bar was ignored but all historical post market opening bars were still included.

6월 11일

릴리즈 노트

Updated excluded candle to instead be an average of the previous day so as to not completely remove any movement for that bar.