OBV Shadows
Overlay shows difference between OBV and OBV's moving average as green and red dos above and below cendles.
Designed to fast divergence detection.
Designed to fast divergence detection.
study(title="OBV Shadow", shorttitle="OBVShad", overlay=true) window_len = input(28, defval=28, minval=1, title='Window Lenght') obv_len = input(14, defval=14, minval=1, title='OBV smooth Lenght') price_spread = stdev(high-low, window_len) obv = cum(change(close) > 0 ? volume : change(close) < 0 ? -volume : 0*volume) smooth = sma(obv, obv_len) obv_spread = stdev(obv - smooth, window_len) shadow = (obv - smooth) / obv_spread * price_spread out = shadow > 0 ? high + shadow : low + shadow color = shadow > 0 ? green : red plot(out, style=cross, color=color) // out = close > close[1] ? shadow : -shadow // plotarrow(out, colorup=green, colordown=red, transp=50, title='Volume Shadow')