OPEN-SOURCE SCRIPT
BBPBΔ(OBV-PVT)BB - Time Series Decomposition & Volume Weighted
Actualizado
This is an indicator that shows 5 different points of information:
#1 The Trendline is uses a time-series decomposition to remove noise and seasonality data to provide a trendline without using moving averages. This is then further processed by a custom VWAP block that weights it based on the time frame you're currently using.
#2 BB%B - This is the blue histogram that's partially transparent. This is used to find when a security is overbought or oversold.
#3 BB%B of the Δ(OBV-PVT). This is the green histogram. We took the OBV and subtracted the PVT from it, then we found the delta of that compared to the previous candle. This output a line, which we wrapped in bollinger bands to find the BB%B of this line. This line is represented as a histogram, for visual clarity.
#4 Long and Short Indicators: Long is represented by a green dot, and short is represented by a red dot.
#5 Zones - there are multiple zones, which are used to identify overbought and oversold zones.
How to use the indicator:
Simple way: Long on green dot, Short on red dot. Use stop losses and take profits.
Slightly More Complex: Same as above, but also close out longs, when the green histogram drops but the blue does not. As this means price action hasn't caught up with volume. Use stop losses and take profits.
Full Usage: Long only when both the green, blue and yellow lines are below 0, and sell when the blue or green histogram rises above 1. Perform the opposite for the shorting. Ignore the dots if you use this method, they are for simple reference points til you get used to this indicator. Use stop losses and take profits.
#1 The Trendline is uses a time-series decomposition to remove noise and seasonality data to provide a trendline without using moving averages. This is then further processed by a custom VWAP block that weights it based on the time frame you're currently using.
#2 BB%B - This is the blue histogram that's partially transparent. This is used to find when a security is overbought or oversold.
#3 BB%B of the Δ(OBV-PVT). This is the green histogram. We took the OBV and subtracted the PVT from it, then we found the delta of that compared to the previous candle. This output a line, which we wrapped in bollinger bands to find the BB%B of this line. This line is represented as a histogram, for visual clarity.
#4 Long and Short Indicators: Long is represented by a green dot, and short is represented by a red dot.
#5 Zones - there are multiple zones, which are used to identify overbought and oversold zones.
How to use the indicator:
Simple way: Long on green dot, Short on red dot. Use stop losses and take profits.
Slightly More Complex: Same as above, but also close out longs, when the green histogram drops but the blue does not. As this means price action hasn't caught up with volume. Use stop losses and take profits.
Full Usage: Long only when both the green, blue and yellow lines are below 0, and sell when the blue or green histogram rises above 1. Perform the opposite for the shorting. Ignore the dots if you use this method, they are for simple reference points til you get used to this indicator. Use stop losses and take profits.
Notas de prensa
I've added a function to remove repainting, this should improve stability and performance of the algorithmScript de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
¿Quiere utilizar este script en un gráfico?
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.