Indicator display where OBV (On Balance Volume) is in relation to the bands of Bollinger Bands (OBV,100,3)
A. OBV's Bb Info 1. Basis = SMA (OBV,100) 2. Upper Band = Basis + 3 x Standard Deviation 3. Lower Band = Basis - 3 x Standard Deviation
B. OBV's %B Info 1. %B Above 1 = OBV is Above the Upper Band 2. %B Below 0 = OBV is Below the Lower Band 3. %B Above 0.8 = OBV is Nearing the Upper Band 4. %B Below 0.20 = OBV is Nearing the Lower Band
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* Update to Pine version 5 * Add Signal Background * Buy Signal: - When obv inside Support Zone (0.0 - 0.2) * Sell Signal: - When obv inside Resistance Zone (0.8 - 1.0)