Lancelot_Augur

Lancelot ATR Volume Meter

This is an experiment I did a while back ago.

I often think On Balance Volume is a great indicator as trend direction and volume cannot lie.

However, I bumped into a few problems.

It is slow, doesn't show volatility and often time it is prone to chop.

That's why I added ATR to the equation.

Original OBV calculation
src > 0? : +volume : src < 0? -volume

Modified OBV with ATR
src > 0 ? +volume * ( volume / atr) : src < 0? -volume * ( volume / atr)

I have used 2 ema for this modified OBV.
ema 3
ema 18

By adding ATR to the equation we can smooth out many erratic price movement. (Stop hunting)

Also, when price move slowly but steady, often prepping for a big move, this indicator will move faster.

In short, this indicator prevents you from being stop hunted and also provide great entry for a trending market.

Works well on BTCUSD XBTUSD , as well as other major liquid Pair.

Feel free to follow me on Twitter @Lancelot_Auger for more free Alpha.

Please acknowledge my effort by like and follow.

And lastly,

Save Hong Kong, the revolution of our times.

Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con lo establecido en las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?