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Aggregate Signal (v.2) is an oscillator indicator that combines multiple technical factors into a single composite score. It scales OHLCV data using minimax normalization and evaluates indicators such as MACD, RSI, Stochastic, CCI, Momentum, On-Balance Volume,
Indicator · Pine Script v5 · Own pane
On Balance Volume
This indicator plots the standard On Balance Volume (OBV) in a separate pane by accumulating volume based on the direction of price changes.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code23
Settings2inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
23 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/on-balance-volume.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="On Balance Volume", shorttitle="OBV", format=format.volume, timeframe="", timeframe_gaps=true)
var cumVol = 0.
cumVol += nz(volume)
if barstate.islast and cumVol == 0
runtime.error("No volume is provided by the data vendor.")
src = close
obv = ta.cum(math.sign(ta.change(src)) * volume)
plot(obv, color=#2962FF, title="OnBalanceVolume")
ma(source, length, type) =>
switch type
"SMA" => ta.sma(source, length)
"EMA" => ta.ema(source, length)
"SMMA (RMA)" => ta.rma(source, length)
"WMA" => ta.wma(source, length)
"VWMA" => ta.vwma(source, length)
typeMA = input.string(title = "Method", defval = "SMA", options=["SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA"], group="Smoothing")
smoothingLength = input.int(title = "Length", defval = 5, minval = 1, maxval = 100, group="Smoothing")
smoothingLine = ma(obv, smoothingLength, typeMA)
plot(smoothingLine, title="Smoothing Line", color=#f37f20, display=display.none)
Overview
On Balance Volume includes an optional smoothing line that can apply a Simple, Exponential, Smoothed, Weighted, or Volume-Weighted Moving Average across a customizable lookback period. The script verifies that volume data is supplied by the data vendor and raises a runtime error if volume is missing.
- Cumulative On Balance Volume calculation
- Configurable smoothing moving average
- Multiple MA types including SMA, EMA, RMA, WMA, and VWMA
- Data vendor volume availability verification
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volume, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Method | string | SMA | typeMA |
| Length | int | 5 | smoothingLength |
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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