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Normalized OBV

When looking at the information of On Balance Volume indicator, a question arises: is it a strong or weak movement? Should it be compared with previous days? These data should be normalized to always have a reference.

This indicator presents the followings parameters:

  • Normalization period (Max-Mins absolute)
  • Smoothing period (-1 off)
  • Tick/Real Volume
  • Maximum number of bars to calculate (-1 off)
  • Upper value normalization
  • Lower value normalization

Calculation: normOBV = (value - absMin) * (relMax - relMin) / (absMax - absMin) + relMin

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