OBV Z-Score + Table

📘 OBV Z-Score — Indicator Description
Overview
This indicator converts the On-Balance Volume (OBV) into a Z-Score oscillator, providing a normalized statistical view of volume flow strength relative to its recent history.

How It Works

OBV Calculation
The On-Balance Volume accumulates volume based on price direction, showing whether volume is flowing into or out of an asset.

Z-Score Transformation
The OBV values are normalized via Z-Score:

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Z = (OBV - Mean) / Standard Deviation
This reveals how unusually strong or weak volume momentum is compared to recent norms.

Smoothing
An optional moving average smoothing (SMA, EMA, VWMA, etc.) can be applied for cleaner signals.

Z-Score Table
A live Z-Score value is displayed in a table on the top-right of the indicator pane, clamped between +2 and -2:

+2 indicates unusually high positive volume momentum

-2 indicates unusually high negative volume momentum

How to Use It

Bullish Signal: Z-Score crossing above +1.5 or +2 signals strong buying volume pressure

Bearish Signal: Z-Score crossing below -1.5 or -2 signals strong selling volume pressure

Combine with Price Action: Use alongside price trends or other Z-Score indicators to improve decision making in SDCA or volume-based trading systems