On Balance Volume W Divergence

OBV With Divergence Indicator

A comprehensive On Balance Volume (OBV) indicator enhanced with divergence detection capabilities.

1. Core Features:Classic OBV calculation with volume-based price movement tracking
   Advanced divergence detection system
   Multiple smoothing options for OBV
   Bollinger Bands integration
   
2. Technical Components:Volume-based price movement analysis
   Pivot point detection for divergence
   Customizable lookback periods
   Adjustable divergence range parameters
   
3. Customization Options:
   • Multiple Moving Average types (SMA, EMA, SMMA, WMA, VWMA)
     
   • Bollinger Bands with adjustable standard deviation
     
   • Divergence sensitivity settings
     
   • Visual customization for signals and alerts
     

The indicator combines traditional OBV analysis with modern divergence detection, offering traders a powerful tool for identifying potential trend reversals and market momentum shifts.

Key Parameters:

- Pivot Lookback Right/Left: 5 (default)
- Divergence Range: 5-60 bars
- MA Length: 14 (default)
- BB StdDev: 2.0 (default)

Alert System:
- Bullish divergence alerts
- Bearish divergence alerts
- Customizable alert messages

Note: The indicator requires volume data to function properly and will display an error if volume data is not available.