MV_OBV - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

Unlike the standard balance volume, which is calculated based on closing prices only, the MultiVote OBV indicator is calculated based on HLC prices, which results in its higher sensitivity.

This indicator has no configurable parameters. Negative values ​​are introduced in red , positive values ​​in green .

 MVOBV = Previous MVOBV + Total Votes * Quantity

Where:

 Total number of votes = number of high votes + number of low votes + number of closed votes

• If high value > previous high value:

   High vote = 1

• If high < previous high:

   High vote=-1

• If low bit > previous low bit:

   Low vote = 1

• If low < previous low:

   Low vote = -1

• If Close > Previous Close:

   close vote = 1

• If closing price < previous closing price:

   Close vote = -1