OPEN-SOURCE SCRIPT
On Balance Volume Adjusted
On Balance Volume Adjusted is similar to classic OBV but I consider the 'success of the volume'.
So, we don't add or substract the entire volume, but the percentage or proportional part of the volume that has brought price action.
So, we don't add or substract the entire volume, but the percentage or proportional part of the volume that has brought price action.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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