Arrow indicator OBV2 bands + arrows is a signal version of the volume indicator based on interaction with a dynamic channel.
The indicator OBV2 bands + arrows is a modification of the popular On Balance Volume indicator, which is better known as OBV.
A dynamic channel, similar to Bollinger bands, is “screwed” to the usual line of the OBV indicator. Trading signals look correspondingly:
- buy – when the indicator line breaks the upper border of the channel;
- sell – when the indicator line breaks through the lower border.
When the channel border is broken, an arrow of the corresponding color and direction appears on the chart.
Please note that the OBV2 bands + arrows indicator is shown with the default settings. To improve the efficiency of the indicator, it is necessary to select your own parameters for each currency pair.
Features of OBV2 Bands + Arrows MT4 indicator
- Platform: Metatrader 4
- Ability to change settings: Yes
- Timeframe: any from 1 Minute to Daily
- Currency pairs: any
In obv2-bands-arrows.zip file you will find:
- obv2 bands+arrows.ex4
Download OBV2 Bands + Arrows MT4 indicator for free:
