OnBalanceVolume OBV OBVM Scan, Watchlist, Label For ThinkOrSwim

[mmct]

@rad14733 how can scan the two pikes?

def obv = TotalSum(Sign(close - close[1]) * volume);
plot scan = obv >1 and obv[1] <0 ;

The pikes from the study, the script i posted above. I hope someone can help me other alternative way to scan these pikes.

 

[rad14733]

@mmct Your code above should work just fine in a scan... The issue is that scans are not intended to find distant historical events and that is what those two indicator spikes are on your chart... We can specify how many bars/candles back we want our scan criteria to consider valid for short-term lookback

 

[nrk786]

@Rojo Grande Use the script below:

#
# TD Ameritrade IP Company, Inc. (c) 2008-2020
#

declare lower;

def OBV = TotalSum(Sign(close - close[1]) * volume);

plot scan = if OBV > OBV[1] then 1 else double.nan;

Add it as an indicator and then set up your scanner to something like this:

I couldn't find the OBV_Scan condition?.

 

[MerryDay]

Disclaimer: I find no use for this scan.
OBV scan link: http://tos.mx/TromDeb Click here for --> Easiest way to load shared links

 

[sbtyme]

How to I create a scan that tells me when the intraday OBV line reaches a new high for today only. Thank you!!

 

[MerryDay]

Here ya go:

def OBV = reference OnBalanceVolume() ;
plot scan = Highest(OBV, 1);

Scan on a daily timeframe

 

[fungus12]

I have a quick question. So I'm trying to add a level line at -5 on the OBVModified script on TOS. Here's the code for it

#
# TD Ameritrade IP Company, Inc. (c) 2020-2021
#

declare lower;

input length = 7;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;

input levelLine = -5;
plot Level = levelLine;


def obv = reference OnBalanceVolume();

plot OBVM = MovingAverage(averageType, obv, length);
plot Signal = MovingAverage(averageType, OBVM, signalLength);

OBVM.SetDefaultColor(GetColor(8));
Signal.SetDefaultColor(GetColor(2));

So I wrote the input levelLine = -5; plot Level = levelLine; part. The issue is for some reason the line always plots at 0. Not sure exactly why this is. Any help would be appreciated.

 

[Svanoy]

@fungus12
The other two plots in this script are in thousands, so a plot of -5 comes out as -0.005.
So you have to plot -5000 or divide each of the two other plots by 1000.

 

[fungus12]

@fungus12
The other two plots in this script are in thousands, so a plot of -5 comes out as -0.005.
So you have to plot -5000 or divide each of the two other plots by 1000.

Hmm it's still stuck at 0. I plotted -5000 but it stays at 0.

 

[Svanoy]

@fungus12
Do you have another indicator in the same "Lower" section?

 

[fungus12]

@fungus12
Do you have another indicator in the same "Lower" section?

I have other lower indicators but not on top of each other. Can you please link your code? Not sure why it's not happening for me.

 

[Svanoy]

@fungus12
It's the same exact code you posted.
Just changed -5 to -5000.

#
# TD Ameritrade IP Company, Inc. (c) 2020-2021
#

declare lower;

input length = 7;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;

input levelLine = -5000;
plot Level = levelLine;


def obv = reference OnBalanceVolume();

plot OBVM = MovingAverage(averageType, obv, length);
plot Signal = MovingAverage(averageType, OBVM, signalLength);

OBVM.SetDefaultColor(GetColor(8));
Signal.SetDefaultColor(GetColor(2));

 

[fungus12]

@fungus12
It's the same exact code you posted.
Just changed -5 to -5000.

#
# TD Ameritrade IP Company, Inc. (c) 2020-2021
#

declare lower;

input length = 7;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;

input levelLine = -5000;
plot Level = levelLine;


def obv = reference OnBalanceVolume();

plot OBVM = MovingAverage(averageType, obv, length);
plot Signal = MovingAverage(averageType, OBVM, signalLength);

OBVM.SetDefaultColor(GetColor(8));
Signal.SetDefaultColor(GetColor(2));

That was odd, it works now. Thanks for the help dude.

 

[fungus12]

@fungus12
It's the same exact code you posted.
Just changed -5 to -5000.

#
# TD Ameritrade IP Company, Inc. (c) 2020-2021
#

declare lower;

input length = 7;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;

input levelLine = -5000;
plot Level = levelLine;


def obv = reference OnBalanceVolume();

plot OBVM = MovingAverage(averageType, obv, length);
plot Signal = MovingAverage(averageType, OBVM, signalLength);

OBVM.SetDefaultColor(GetColor(8));
Signal.SetDefaultColor(GetColor(2));

Sorry dude just one more quick question. When I drag the OBV up to the other graph, I get these black bars on the side that say "millions". Is there any way to remove those?

 

[Svanoy]

@fungus12
Chart Setting > Price Axis Tab > Uncheck "Enable left axis"

 

[kls06541]

I am looking to add a Label to my charts with the latest ON Balance Volume from the last bar & also another label which it should tell me if its goes up or down?

 

[Joshua]

This should get you started...

def OBV = onbalanceVolume();
AddLabel(yes,OBV,color.blue);
AddLabel(yes,if OBV > OBV[1] then "Up" else "Down",color.blue);

 

[woulf1004]

Hi Team,

Could you please assist and assign the arrows to be plotted on the actual candle of the chart?

declare lower;

input length = 7;
input maxVolumeCutOff = 2.5;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;

def OBV = TotalSum(Sign(close - close[1]) * volume);

plot OBVM = MovingAverage(averageType, OBV, length);
plot Signal = MovingAverage(averageType, OBVM, signalLength);

OBVM.SetDefaultColor(GetColor(8));
Signal.SetDefaultColor(GetColor(2));

input showarrows = yes;
def price = close ;

def up = OBVM > Signal and Signal < OBVM ;
def dn = OBVM < Signal and Signal > OBVM ;
def neutral = between(close,min(OBVM,SIGNAL),max(SIGNAL,OBVM));

def x = CompoundValue(1,
if x[1]>=0 and (dn[1] or up[1]==0) and up
then 1
else if x[1]>=1 and (up or !dn)
then x[1]+1
else 0, 1);
def y = CompoundValue(1,
if y[1]<=0 and (up[1] or dn[1]==0) and dn
then 1
else if y[1]>=1 and (dn or !up)
then y[1]+1
else 0, 1);

plot uparrow = if showarrows and x == 3 and up then 1 else 0;
uparrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
uparrow.SetLineWeight(1);
uparrow.SetDefaultColor(Color.yellow);

plot dnarrow = if showarrows and y == 3 and dn then 1 else 0;
dnarrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
dnarrow.SetLineWeight(1);
dnarrow.SetDefaultColor(Color.white);
#

 

[SleepyZ]

Hi Team,

Could you please assist and assign the arrows to be plotted on the actual candle of the chart?

declare lower;

input length = 7;
input maxVolumeCutOff = 2.5;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;

def OBV = TotalSum(Sign(close - close[1]) * volume);

plot OBVM = MovingAverage(averageType, OBV, length);
plot Signal = MovingAverage(averageType, OBVM, signalLength);

OBVM.SetDefaultColor(GetColor(8));
Signal.SetDefaultColor(GetColor(2));

input showarrows = yes;
def price = close ;

def up = OBVM > Signal and Signal < OBVM ;
def dn = OBVM < Signal and Signal > OBVM ;
def neutral = between(close,min(OBVM,SIGNAL),max(SIGNAL,OBVM));

def x = CompoundValue(1,
if x[1]>=0 and (dn[1] or up[1]==0) and up
then 1
else if x[1]>=1 and (up or !dn)
then x[1]+1
else 0, 1);
def y = CompoundValue(1,
if y[1]<=0 and (up[1] or dn[1]==0) and dn
then 1
else if y[1]>=1 and (dn or !up)
then y[1]+1
else 0, 1);

plot uparrow = if showarrows and x == 3 and up then 1 else 0;
uparrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
uparrow.SetLineWeight(1);
uparrow.SetDefaultColor(Color.yellow);

plot dnarrow = if showarrows and y == 3 and dn then 1 else 0;
dnarrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
dnarrow.SetLineWeight(1);
dnarrow.SetDefaultColor(Color.white);
#

The indicator along with the arrows will move to the upper panel when you just change this

declare lower;

to this

#declare lower;

 

[woulf1004]

Awesome! Could also help me combine an additional indicator? It is the built in ROC indicator from TOS.
Basically I would like arrows to plot only if the OBV UpArrow is true and a confirmed ROC is greater than ZeroLine. And the opposite for the DnArrow so then plot the OBV DnArrow when combined with the ROC when its smaller than ZeroLine and confirmed.

input length = 14;
input signalLength = 26;
input averageType = AverageType.EXPONENTIAL;
input showarrows = yes;

def OBV = TotalSum(Sign(close - close[1]) * volume);
def OBVM = MovingAverage(averageType, OBV, length);
def Signal = MovingAverage(averageType, OBVM, signalLength);
def price = close ;
def up = OBVM > Signal and Signal < OBVM ;
def dn = OBVM < Signal and Signal > OBVM ;
def neutral = between(close,min(OBVM,SIGNAL),max(SIGNAL,OBVM));
def x = CompoundValue(1,
if x[1]>=0 and (dn[1] or up[1]==0) and up
then 1
else if x[1]>=1 and (up or !dn)
then x[1]+1
else 0, 1);
def y = CompoundValue(1,
if y[1]<=0 and (up[1] or dn[1]==0) and dn
then 1
else if y[1]>=1 and (dn or !up)
then y[1]+1
else 0, 1);
def uparrow = if showarrows and x == 1 and up then 1 else 0;
#uparrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#uparrow.SetLineWeight(1);
#uparrow.SetDefaultColor(Color.yellow);

def dnarrow = if showarrows and y == 1 and dn then 1 else 0;
#dnarrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
#dnarrow.SetLineWeight(1);
#dnarrow.SetDefaultColor(Color.white);

###

input length2 = 14;
input colorNormLength = 14;

assert(length2 > 0, "'length' must be positive: " + length2);

def ROC = if price[length2] != 0 then (price / price[length2] - 1) * 100 else 0;
def ZeroLine = 0;

#ROC.DefineColor("Highest", Color.YELLOW);
#ROC.DefineColor("Lowest", Color.LIGHT_RED);
#ROC.AssignNormGradientColor(colorNormLength, ROC.color("Lowest"), ROC.color("Highest"));
#ZeroLine.SetDefaultColor(GetColor(5));

def highestROC = HighestAll(ROC);
def lowestROC = LowestAll(ROC);
def midPtHighestROC = highestROC/2;
def midPtLowestROC = lowestROC/2;

#highestROC.setLineWeight(3);
#lowestROC.setLineWeight(3);
#highestROC.setDefaultColor(Color.Red);
#lowestROC.setDefaultColor(Color.Green);

#midPtHighestROC.setLineWeight(1);
#midPtLowestROC.setLineWeight(1);
#midPtHighestROC.setStyle(Curve.Short_Dash);
#midPtLowestROC.setStyle(Curve.Short_Dash);
#midPtHighestROC.setDefaultColor(Color.light_red);
#midPtLowestROC.setDefaultColor(Color.light_green);


def extremeHigh = ROC < HighestROC and ROC >= midPtHighestROC;
def extremeLow = ROC > LowestROC and ROC <= midPtLowestROC;
def ROCUpSignal = extremeLow and (ROC > ROC[1]);
def ROCDownSignal = extremeHigh and (ROC < ROC[1]);

plot bullSignal = if UpArrow and ROC > ZeroLine and ZeroLine < ROC then UpArrow else double.nan;
plot bearSignal = if DnArrow and ROC < ZeroLine and ZeroLine > ROC then DnArrow else double.nan;

bullSignal.setPaintingStrategy(PaintingStrategy.Arrow_Up);
bullSignal.setDefaultColor(Color.Green);
bullSignal.setLineWeight(3);

bearSignal.setPaintingStrategy(PaintingStrategy.Arrow_Down);
bearSignal.setDefaultColor(Color.Red);
bearSignal.setLineWeight(3);