INVITE-ONLY SCRIPT
[KICK] Smart OBVCD Divergences
Updated
This indicator is part of a pair of indicators that make it easier to spot divergences in On Balance Volume , but make the calculations using a unique method. THIS ONE IS IN THE UPPER (PRICE ACTION) PANE OF THE SAMPLE CHART.
Volume is segmented into buy or sell volume by analyzing smaller timeframes (down to 1 minute)
The sell vs. buy volume is calculated as a running total (as per normal OBV calculations)
The Convergence/Divergence of the OBV Buy and Sell volumes are calculated and smoothed with 3rd generation averaging methods
The Smart OBVCD indicator (THE RELATED INDICATOR) visualizes the above calculation on a histogram to make it easier to see the values and how they relate to the price action.
The Smart OBVCD Divergence indicator (THIS ONE) plots Regular and Hidden Bullish and Bearish divergence on higher timeframes based on the calculations and also provides early “warnings” for unconfirmed divergences forming (note: these are unconfirmed because the higher high or lower low have now yet been confirmed on the higher timeframe).
Use the link below to watch a tutorial video, request a trial, or purchase for access.
Volume is segmented into buy or sell volume by analyzing smaller timeframes (down to 1 minute)
The sell vs. buy volume is calculated as a running total (as per normal OBV calculations)
The Convergence/Divergence of the OBV Buy and Sell volumes are calculated and smoothed with 3rd generation averaging methods
The Smart OBVCD indicator (THE RELATED INDICATOR) visualizes the above calculation on a histogram to make it easier to see the values and how they relate to the price action.
The Smart OBVCD Divergence indicator (THIS ONE) plots Regular and Hidden Bullish and Bearish divergence on higher timeframes based on the calculations and also provides early “warnings” for unconfirmed divergences forming (note: these are unconfirmed because the higher high or lower low have now yet been confirmed on the higher timeframe).
Use the link below to watch a tutorial video, request a trial, or purchase for access.
Release Notes
Added max_bars_back and also adjusted line thickness defaults to be in line with TradingView changesRelease Notes
Added alert conditions for hidden divergencesRelease Notes
Updated default alert condition messages.Release Notes
Minor fixes
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Invite-only script
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