Attempt to correct the OBV.
The OBV credits the whole volume of the day to the winning direction.
This indicator only credits the portion of the volume that is guessed to have gone in the right direction.
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REM Directional volume accumulation REM ldist: Price Distance ldist = 2 * (HIGH - LOW) - ABS(CLOSE - OPEN) + ABS(OPEN - CLOSE[1]) IF ldist = 0 THEN inc=0 ELSE inc = VOLUME * (CLOSE - CLOSE[1]) / ldist ENDIF RETURN CUMSUM(inc) AS"Directional Volume" |
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