StockFetcher Forums · Filter Exchange · Modified OBV request/help!<< >>Post Follow-up
byebyemoney
31 posts
msg #149215
Ignore byebyemoney
9/23/2019 10:19:43 PM

Hello,

I'm trying to create an indicator that is similar to OBV but it includes the difference between todays close to yesterday's close as a multiplier for each day that is calculated.

for instance

Scenario 1:
stock close yesterday $5
stock close today $10
Volume: 100000

OBV would simply add 100000 to the previous value
vs
Requested Indicator would add (10 yesterdays close - 5 today's close) 5 * 100000 = 500000 and 500000 will be added to the value of the indicator the day before.

Scenario 2:
stock close yesterday $10
stock close today $5
Volume: 100000

OBV would simply subract 100000 to the previous value
vs
Requested Indicator would add (5yesterdays close - 10 today's close) -5 * 100000 = -500000 and -500000 will be added to the value of the indicator the day before.

Thank you in advance for any help

This is what I currently have but I know it isn't right

Fetcher[
close is above 10
chart-length is 3 months
set{yesclose, close 1 day ago}
set{pricediff, close -yesclose}
set{volpricediff, volume * pricediff}
set{modOBV, sum(volpricediff,350)}
draw modOBV
]



xarlor
202 posts
msg #149229
Ignore xarlor
9/24/2019 6:41:52 PM

Maybe?

Fetcher[
close > 10
set{var1,close - close 1 day ago}
set{var2,volume * var1}
set{var3,var2 1 day ago}
set{OBVx,var2 + var3}

draw OBVx
draw OBV
draw OBVx line at 0
draw OBV line at 0
]



byebyemoney
31 posts
msg #149232
Ignore byebyemoney
9/24/2019 7:45:30 PM

@xarlor thanks for the response! Just looking at some of the few results I can see that there are some discrepancies since the obvx should never decrease on an up day but just quickly looking at it the value drops even on green days

byebyemoney
31 posts
msg #149233
Ignore byebyemoney
9/24/2019 8:58:16 PM

@xarlor it seems like that calculation only uses the current day and the day before whereas I'm looking more of a accumulative indicator much like the obv where it is an accumulation of all the days before for each day

StockFetcher Forums · Filter Exchange · Modified OBV request/help!<< >>Post Follow-up

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