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;