i-SpectrAnalysis_OBV – indicator MetaTrader 5

Real author:

klot

This indicator is an example of smoothing the On Balance Volume indicator timeseries by filtering high-order harmonics.

You can use this approach for smoothing the output of any indicator. The major advantage of this method is that it has practically zero latency.

Indicator input parameters:

input ENUM_APPLIED_VOLUME VolumeType=VOLUME_TICK; // Volume
input uint N = 7;                                 // Series length
input uint SS = 20;                               // Smoothing coefficient
input int Shift=0;                                // Horizontal indicator shift in bars

where:

• N — sets the series length (power of two);
• SS — smoothing coefficient in the resulting spectrum zeroes out frequencies exceeding the set value. SS cannot be greater than 2^N. If SS = 2^N, the OBV series is repeated.

This indicator requires the following library:

Fig.1. The i-SpectrAnalysis_OBV indicator