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Normalized OBV

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Demo downloaded: 129

Published: 24 September 2015

Current version: 2.10

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Normalized OBV

Indicators
Jose Miguel Soriano
Version: 2.10
Updated: 23 January 2022
Activations: 5

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

more...

Screenshot #1 Normalized OBV

Screenshot #2 Normalized OBV

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