OBV (Extended) - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
On-balance volume (OBV) is a technical trade momentum Indicators used volume flow to predict changes in stock prices. Joseph Granville first proposed the OBV metric in his 1963 book Granville's New Key to Stock Market Profits .
The problem with "regular" OBV is that it's not informative enough. Changing direction very frequently, n o levels can be used as any kind of "signal". /This release adds a Donchian channel to the OBV to address the issue and provide a possible solution to the lack of signal/information
Attachment download
📎 obv_dextendedn.mq5 (7.88 KB)
Source: MQL5 #37249
OBV (Extended) - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
OBV (Extended) - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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