Actually what happened was I was looking at hot-rodding the OBV indicator, but then wondered if I could apply the cumulative calculation to another indicator to see what would happen. Not sure why I chose the , but it seemed a neat idea. And it worked! And so I called it the "Cumulative ." I only recently realized that this is actually just the OBV without , HOWEVER the OBV does not have a lookback period, and its source is the close of each period. Basically, when you look at the calculation for the OBV you'll notice that it's a cumulative measure of the "change" of the closing price against the previous close times the . The is basically that measurement over more than one period, excluding the , and is not cumulative. Thus the "Cumulative Rate of Change" is basically an OBV without the but with the capability to adjust the lookback period.
Anyway, after days and weeks of playing with the indicator pretty infrequently I did decide that I actually really liked it, especially with the addition of moving averages and . So I decided to play with it a bit more.
I added a drop-down menu to include the standard indicator, and then thought I may as well add the OBV too, in case someone might like to compare that to the C-RoC, or just wants an OBV with myriad moving averages and .
By default I have the indicator set to the "C-RoC" and the lookback is set to 1, but play with longer settings (this is pretty much necessary if using the traditional , which is by default set to 10 in TradingView, and is nigh on useless at 1).
I also recommend playing with the source. 'Close' is nice, but 'ohlc4' provides some very nice signals as well, as it follows the price flow for each period completely, filtering the noisiness of 'close' as source.
Hope you guys like this. With the and your preferred moving average settings this can be a powerful tool for re-entering trades in trend, taking profits, determining momentum swings.
Với tinh thần TradingView, tác giả của tập lệnh này đã xuất bản nó dưới dạng mã nguồn mở, vì vậy các nhà giao dịch có thể hiểu và xác minh nó. Chúc mừng tác giả! Bạn có thể sử dụng mã này miễn phí, nhưng việc sử dụng lại mã này trong một ấn phẩm chịu sự điều chỉnh của Nội quy nội bộ. Bạn có thể yêu thích nó để sử dụng nó trên biểu đồ.