Lancelot_Augur

Lancelot ATR Volume Meter

This is an experiment I did a while back ago.

I often think On Balance Volume is a great indicator as trend direction and volume cannot lie.

However, I bumped into a few problems.

It is slow, doesn't show volatility and often time it is prone to chop.

That's why I added ATR to the equation.

Original OBV calculation
src > 0? : +volume : src < 0? -volume

Modified OBV with ATR
src > 0 ? +volume * ( volume / atr) : src < 0? -volume * ( volume / atr)

I have used 2 ema for this modified OBV.
ema 3
ema 18

By adding ATR to the equation we can smooth out many erratic price movement. (Stop hunting)

Also, when price move slowly but steady, often prepping for a big move, this indicator will move faster.

In short, this indicator prevents you from being stop hunted and also provide great entry for a trending market.

Works well on BTCUSD XBTUSD , as well as other major liquid Pair.

Feel free to follow me on Twitter @Lancelot_Auger for more free Alpha.

Please acknowledge my effort by like and follow.

And lastly,

Save Hong Kong, the revolution of our times.
오픈 소스 스크립트

진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.

차트에 이 스크립트를 사용하시겠습니까?

코멘트

Very good indicator ! genius to add ATR to modify it. It reduce many chopiness!
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@Lancelot_Augur Hi there, would you mind doing a video on how it works? or just a simple explanation. I'm not too sure how it prevents you from being stop hunted.

Please excuse my newly experience as a trader, but I'm looking to understand it better :)

Thank you and well done
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can I get this sensational indicator for my MT4?
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Absolute banger well done!!!
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Love your work and HK.
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Nice work! - thank you
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Lancelot_Augur Tradingpicks8
@Tradingpicks8, You're welcome. Stick around for more script!
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香港是中国的,需要拯救吗?
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@AItraders, also save China and Chinese people from the communist party, you guys deserve to live a better life, more freedom, and justice.
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Lancelot_Augur Lancelot_Augur
@Lancelot_Augur, 50 million oversea Chinese people are already enjoying a much higher living standard as well as other perks such as being able to vote and freedom that comes along with their citizenship. Whilst the communist party suppress their own people in the most basic human right.
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