OBV Strength Relative to Volume (Lakhs View)

OBV Strength Relative to Volume (Lakhs View)
Description:

to provide a compact yet powerful insight into volume momentum and price conviction. It's tailored for traders and analysts in markets like India, where high-volume stocks are often better interpreted in lakhs.

💡 Key Features:
OBV Calculation: Cumulative OBV is computed based on price movement direction and volume contribution.

OBV Strength (%): Measures the percentage strength of OBV relative to total volume over a user-defined period. It reflects how strongly volume is contributing to price movements.

Lakhs View: Both OBV and Volume are scaled to lakhs for cleaner readability and practical analysis in high-volume securities.

Historical Table Display:

Displays date-wise OBV, Volume, and OBV Strength for the last N candles (customizable).

Automatically updates every 5 bars or on each bar for real-time analysis.

Color-coded cells for quick visual recognition.

⚙️ Inputs:
OBV Strength Period: Number of bars used to calculate OBV strength (default = 5).

Number of Days in Table: Number of recent bars shown in the on-chart table (default = 5).

📈 Plots:
OBV (Lakhs) – Aqua line.

Volume (Lakhs) – Orange columns.

OBV Strength (%) – Green line indicating momentum strength based on volume.

📍 Ideal Use:
Use this indicator to:

Spot divergences between OBV and price.

Assess the strength of volume behind a trend.

Track consistency and spikes in volume-backed price moves.

Quickly scan recent trends with a clear numerical and visual table.