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Volume based > OBVDI (On-Balance Volume Disparity Indicator)

Article/Author: “Enhancing On-Balance Volume and Negative Volume” Philip C. Holt, Stocks&Commodities Magazine, Traders Tips, 06/1996

Download: OBVDI-Ind.ela

File Includes:

Indicator - OBVDI
Function - OBVDI

Category: Volume based > OBVDI

Description:

This is a new technique for identifying and quantifying on-balance volume disparity. The indicators appear to be effective in indicating market turning points, judging from the results of the simple systems devised.

This indicator is suitable for sophisticated, momentum-oriented investors.

Usage:

Buy when the four-week simple moving average of OBVDI rises through the 0.85 or 0.95 level.
Sell when the moving average falls through the 0.95 level.




No Inputs

EasyLanguage Code:
PLOT1(OBVDI(33),"PLOT1");

PLOT2(AVERAGE(OBVDI(33),4),"PLOT2");
IF CHECKALERT THEN BEGIN
IF PLOT1 CROSSES ABOVE PLOT2 OR PLOT1 CROSSES BELOW PLOT2
THEN ALERT;
END;