Original OBV only compares Closing Price.
MVOVB takes into account all price components.
This has resulted with higher sensitivity compared to the original.
if HIGH >previous HIGH then HIGHVOTE =1
if HIGH < previous HIGH then HIGHVOTE =-1
if LOW >previous LOW then LOWVOTE =1
if LOW < previous LOW then LOWVOTE =-1
if CLOSE>previous CLOSE then CLOSEVOTE=1
if CLOSE < previous CLOSE then CLOSEVOTE =-1
TOTALVOTE = HIGHVOTE + LOWVOTE + CLOSEVOTE
MVOBV = previousMVOBV + TOTALVOTE * Volume
MVOBV = previousMVOBV + TOTALVOTE * Volume
MV OVB.lua- (2.72 KiB) Downloaded 791 times
The indicator was revised and updated
