Lancelot_Augur

Trend Confirmation Indicator - Triple OBV

Dear all, you might wonder is there a confirmation indicator that has a high hit rate, is dependable, and could rely on the information it gives you when making a decision?

Here I present an indicator I developed specifically for cryptocurrency, in the minds of eliminating fakeouts and traps.

Trend is always invalid then there is a lack of volume , so by tracking the momentum of price direction & volume , we can have a ballpark about where the market is moving to.

On balance volume
obvshort = ema3
obvmedium = ema9
obvlong = ema26

This is a lagging indicator, which means it's not good at predicting reversal.

This is also the reason why

long signal = obvshort > obvmedium and obvshort > obvlong
shortsignal = obvshort < obvmedium and obvshort < obvlong

both without obvmedium >< obvlong

This indicator will not lie to you.

At last

Save Hong Kong, the revolution of our time.
Oct 21
Release Notes: Fixed a typo in the code.
Oct 21
Release Notes: Fixed Typo and Chart.
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There is a typo in the code
obvshortcondition = obvshort > obvmedium and obvshort < obvlong
should be
obvshortcondition = obvshort < obvmedium and obvshort < obvlong
Svara
StillAlive Lancelot_Augur
@Lancelot_Augur, Thanks bro.
Svara
@StillAlive, You're welcome.
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