A momentum indicator that uses volume flow to predict changes in stock price. When volume increases sharply without a significant change in the stock's price, the price will eventually jump upward, and vice versa. The theory behind OBV is based on the distinction between smart money – namely, institutional investors – and less sophisticated retail investors. As mutual funds and pension funds begin to buy into an issue that retail investors are selling, volume may increase even as the price remains relatively level. Eventually, volume drives the price upward. At that point, larger investors begin to sell, and smaller investors begin buying.
With this MTF version OBV, you can apply any time frame of OBV to your current chart.
You can have OBV for 15 or 60 minute on your 5 minutes chart, or having weekly OBV on Daily chart.
As long as the secondary time frame is greater than the primary time frame.
From the following examples, you can see that there was a reversal when current OBV(yellow) crossover the longer term OBV(blue).
If you turn 'mtf' to 'No', you can use this as the regular OBV.
All time frames:
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