Overview
This advanced trading indicator combines Volume analysis, On Balance Volume (OBV) trends, and ADX signals into a structured table for real-time market insights. Designed for traders, it highlights buyer/seller dominance, trend strength, and multi-asset comparisons to streamline decision-making.
Key Features
1. Buyer & Seller Volume Analysis
- Calculates percentage-based buyer/seller volume from price movements.
- Tracks cumulative daily volume to gauge market participation intensity.
2. On Balance Volume (OBV) Trends
- Identifies accumulation (positive OBV) or distribution (negative OBV) phases.
- Uses smoothed algorithms for reliable trend signals with color-coded visual cues.
3. ADX-Based Trend Confirmation
- Evaluates Directional Movement (DI+/DI-) to classify uptrends/downtrends.
- Customizable ADX thresholds to filter weak trends (default: ADX > 25 = strong trend).
4. Custom Symbol Comparison
- Compare your asset against an index, ETF, or another stock.
- Side-by-side analysis of volume dynamics and relative trend strength.
5. User-Friendly Table Display
- Compact, color-coded table for quick interpretation.
- Real-time updates for active trading sessions.
Recommended Usage
Best Paired With:
- 📌 Sri_Momentum or Sri(+) Pivot for trade confirmations.
- 📌 Supplemental indicators (e.g., RSI, CCI) to improve win-rate.
How to Use:
- Select a comparison symbol (e.g., SPX for stocks).
- Adjust ADX sensitivity per market volatility.
Interpret the table for:
- Buyer/Seller % dominance.
- OBV trend direction (green = bullish, red = bearish).
- ADX strength (weak/neutral/strong).
Best Use Cases:
- 🔹 Trend validation during breakouts/reversals.
- 🔹 Pre-trade volume analysis to confirm participation.
- 🔹 Cross-asset correlation (e.g., stock vs. sector ETF).
👉 Explore advanced trading strategies
FAQs
Q1: How does OBV differ from standard volume?
A: OBV adds/subtracts volume based on price direction, highlighting accumulation/distribution, while raw volume only shows activity levels.
Q2: What ADX value indicates a strong trend?
A: ADX > 25 suggests a strong trend; values < 20 imply weak/no trend. Adjust thresholds for volatile markets.
Q3: Can I use this for day trading?
A: Yes! The real-time volume/trend signals are ideal for short-term strategies when paired with price action.
Q4: Why compare two symbols?
A: It reveals relative strength (e.g., stock outperforming its sector ETF) or divergence signals.
Q5: Is this indicator open-source?
A: Yes! The script is free to use and modify via TradingView’s open-source library.
Conclusion
This Volume + OBV + ADX indicator merges critical market metrics into a single tool for actionable insights. Whether confirming trends, analyzing volume, or comparing assets, it’s a versatile addition to any trader’s toolkit.
Note: Trading involves risk. Use tools to inform, not replace, your strategy.