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Balance-volume

BankNifty Aggregate Weighted OBVDescription- This indicator calculates the aggregate On Balance Volume (OBV) of the entire Bank Nifty Index by analyzing its 12 individual constituents rather than the index futures volume. Why is this different? Standard OBV on the Bank Nifty Index usually analyzes the volume of the Index Futures or the raw index volume (which can be inaccurate or derivative-heavy). This script queries the real-time volume and price action of the 12 specific banks that make up the index (HDFC, ICICI, SBI, Axis, Kotak, etc.). How it works- Weighted Calculation:- It calculates the Net Flow (Volume * Weightage) for every single bank for the current bar. Aggregation:- It sums the Net Flow of all 12 banks to create a "Total Sector Flow." Accumulation:- It generates the OBV line based on this aggregated sector flow. Normalization:- Unlike simple summation scripts, this calculates flow per bar before accumulating, ensuring that stocks with longer trading histories do not skew the data. Features: Customizable Weights:- Users can adjust the weightage of each bank if NSE rebalances the index. Toggle Constituents:- You can turn specific banks on/off to see their impact. Signal Line:- Includes an SMA/EMA signal line to help identify volume trend reversals. Trend Coloring:- The fill color changes (Green/Red) based on the OBV's position relative to the signal line. How to use: Trend Confirmation: If Bank Nifty price is rising but this Weighted OBV is falling, it indicates a divergence and potential weakness in the move (lack of institutional participation). Breakouts: Use the Signal Line crossover to validate breakout moves.
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OBVX Conviction Bias🧮 The OBVX Conviction Bias overlay tracks the flow of directional volume using the classic On-Balance Volume calculation, then filters it through a layered moving average system to expose crowd commitment , pressure transitions , and momentum fatigue . The tool applies two smoothed averages to the OBV line—a fast curve and a longer-term baseline scaled using Euler’s constant (2.718)—and visualizes their relationship using a color-coded crossover ribbon and pressure fills. When used correctly, it reveals whether a move is being supported by meaningful volume, or whether the crowd is starting to disengage. 🚦 The core signal compares OBV to its fast moving average. When OBV climbs above the short average, it fills green—suggesting real directional effort. When OBV sinks below, the fill turns maroon—flagging fading conviction or pullback potential. A second fill between the short and long OBV moving averages captures the broader trend of volume intention. If the short is above the long, this space fills greenish, showing constructive pressure. If it flips, the fill fades red, signaling crowd hesitation, rotation, or early exhaustion. ⚖️ All smoothing is user-selectable, defaulting to VWMA for effort-sensitive structure. The long-term average is auto-scaled using the natural exponential multiplier (2.718), offering rhythm that reflects the curve of participation. OBVX Conviction Bias isn’t trying to predict—it’s trying to show you where the crowd is leaning , and whether that lean is gaining traction or losing strength. 🧐  Ideal Use-Cases: • Detect divergence between volume flow and price action • Confirm breakout validity with volume alignment • Fade breakouts where OBV fails to follow through • Time pullback entries when OBV pressure resumes in trend direction 🍷  Recommended Pairings: • ZVOL to measure whether volume is statistically significant or just noise (as shown) • RVOL Effort Matrix to validate crowd effort by tier and structure zone • SUPeR TReND 2.718 and/or MA Ribbons for directional confluence • ATR Turbulence to track volatility-phase alignment with volume intention
Pine Script® 인디케이터
TheLeadingIndicator의