On Balance Volume can act as a leading indicator to predict upcoming price changes. Trendline analysis works well for this purpose. OBV gives direction to the volume indicator, which helps a trader to see if there is buying pressure or selling pressure, and if the price chart is conforming to that pressure. OBV can help identify trends that can be traded, a change of sentiment by investors, and divergences in which price is heading in the opposite direction of the prevailing buying or selling pressure.
And here is OBV TMA TrueSlope indicator thanks to Neo Trader and litle of me.... I think we can use it in combination with TMA TrueSlope.....
It is like the standard TMATrueSlope Indicator only that you have now a external Parameter "useOBV". If it is set to true (default) the TMA calculations are based on the OBV otherwise on Price close like the standard TMA. You have also the option to switch TMAtrue on/off (default is on). The MTF Version should also work.
He implemented also the average Range. You can activate it with the Parameter "useObvAtr". He also implemented the "obvAtrPeriod" Parameter where you can define the Period of the obvAtr. The default is at 100 like the standard atrPeriod.
