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
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xarlor
581 posts
msg #149229
- Ignore xarlor |
9/24/2019 6:41:52 PM
Maybe?
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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
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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
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