Looking to develop a custom OBV divergence indicator

指定

Hello !!


Im looking to develop a custom OBV divergence indicator as shown in the images.

OBV-DIVERGENCE-1

OBV-DIVERGENCE-2


TF: M15 (current TF)
OBV: M15 (current TF)

Min number of D1 candles in-between: 4   (parameterize)
Max number of D1 candles in-between: 18 (parameterize)

  Consider SHORT trade: If the OBV divergence condition becomes true, then..
  Wait till price touches the 200 EMA (current TF). At this point, if the divergence condition still holds good with respect to the highest point before the touch of 200 EMA, then:
    -- draw a line on the two points as shown.
    -- Send alert.
Likewise, the other way around for LONG trade.


Note:

  • OBV divergence checking condition:
    •  price makes higher high - OBV is lower or equal
    •  price makes lower low - OBV is higher or equal
  • Please use standard OBV indicator which comes with MT4.
  • Can check condition at close of current TF candle.
  • Need not indicate LONG or SHORT. Simply a divergence sign would suffice.


Please let me know if anything isn't clear enough, I'm happy to include more details.


Thanks much!

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