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TradeLeader OBV MA

The on-balance volume indicator (OBV) is a momentum indicator and was developed in 1963 by Joseph E. Granville.

The OBV shows the importance of a volume and its relationship with the price. It compares the positive and negative volume flows against its price over a time period.

To provide further confirmation that a trend may be weakening, Granville recommended using a 20-period moving average in conjunction with the OBV.

As a result, OBV users could then observe such events more easily by noting any crossovers of the OBV line and its moving average.

In Forex, you do not have the real volume information. So, OBV/MA works better on stocks market.


Parameters

  • Type of Volume: Tick or Real.
  • Moving average period: choose the moving average period.
  • Shift of the moving average.
Choose the colors and other aspects of the lines in the colors tab.

You can include this indicator in your EA, script or other indicator using the iCustom function of the MQL5 language.

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