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Registered User
Joined: 9/12/2010
Posts: 121
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Hello.
Can you provide a pcf for a OBv oscillator?
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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As far as I can tell, an OBV oscillator is just OBV minus its moving average. So an OBV oscillator based on a 20-period simple moving average could be written as follows.
OBV - OBV20
While you would need to use the XAVG() function if the OBV oscillater is based on a 30-period exponential moving average.
OBV - XAVG(OBV,30)
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/12/2010
Posts: 121
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Thank you for the quick esponse.
What I was looking is an OBV oscillator around a zero line. I think you math people call it 'normalized'. Tradingview provides one but dont know how to implement it on TC2000.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I have no way of finding out what Tradingview is doing, but the formulas given in my previous post do in fact return an oscillator around a zero line.
You could divide the results by average volume if you wanted to eliminate the effect of the differences in volume magnitude between symbols.
So OBV - OBV20 would become something like the following.
(OBV - OBV20) / AVGV20
And OBV - XAVG(OBV,30) would become something like the following.
(OBV - XAVG(OBV,30)) / XAVGV30
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/12/2010
Posts: 121
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ok. i'll try, thank you for the effort.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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From what Ive seen it looks like its:
OBV-20ema.
Which would be the second PCF fom Bruce.
Just change the 30 to 20.
Thanks
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Registered User
Joined: 8/23/2013
Posts: 245
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julian1000 very interesting idea. I use OBV and draw trendlines on the plots and look for break of trendline as confirmation that a change of direction of the price will continue. These formulas may have some benefit in scanning for the directions change.
Thanks to Bruce L and diceman as well
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Registered User
Joined: 8/23/2013
Posts: 245
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diceman I am confused on this one (the 2nd one) (OBV - XAVG(OBV,30) / XAVGV30 I get an error on the formula (so I added a " ) " to the rightside which remove my error but when I use this with 10 or 20 or 30 I get the same exact plot AND it is also the same exact plot that the On Balance Volume indicator plots as well the first formula does change plots and is different from the obv plot
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Your PCF is missing a parenthesis.
This should work:
(OBV - XAVG(OBV,30))/XAVGV30
Thanks
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