Altered OBV On MACD constructs a modified On-Balance Volume (OBV) metric and calculates a MACD oscillator based on this custom volume series rather than price. Long positions trigger when the OBV MACD crosses above its signal line while rising. Short positions trigger when the custom MACD falls below its signal line under confirming price conditions. Settings permit adjusting MACD lengths, MA types, and plot offsets. The strategy includes no explicit stop loss exits.
Modified On-Balance Volume calculation
MACD oscillator applied to custom volume data
Multi-period SMA overlay plots on the price chart
Configurable moving average types for oscillator calculation
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Offset
int
0
offset
Fast Length
int
12
fast_length
Slow Length
int
26
slow_length
Signal Smoothing
int
9
signal_length
Oscillator MA Type
string
EMA
sma_source
Signal Line MA Type
string
EMA
sma_signal
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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