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MT5 Volume indicators

#1
From Mladen Rakic:

On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. Joseph Granville first developed the OBV metric in the 1963 book Granville's New Key to Stock Market Profits.

The issue with the "regular" OBV is that it is not too informative. Changes direction very frequently, no levels to be used as "signals" of any sort./ This version is adding a sort of Donchian channels to OBV in order to address that issue and to bring one possible solution for lack of signals / information


Image



Image


Recommendations:
.Use it as you usually use OBV
.Or use close changes as possible breaks and retracements
OBV (extended).mq5
(7.88 KiB) Downloaded 43 times


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