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Anchored OBV RSI: "V-RSI"

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About the Indicator:

V-RSI uses values from the traditional "Relative Strength Index(RSI)" oscillator and the "On Balance Volume(OBV)" indicator and anchors them into an oscillator format. In doing so, we are given a more concrete overview of volume/sentiment data relative to the RSI for analysis of trend strength and decision making.

EXTRAS: BTC MODE => for BTC only.

In BTC MODE, the indicator uses BTC volume data from the following 5 major exchanges: BINANCE, COINBASE, FTX, BITMEX, BITFINEX.
The sum of this data is taken to depict anchored OBV values. This allows for a more accurate representation of Global Volume.

How to use it

The indicator can be used like the normal RSI with the OBV (area in the middle) showing volume sentiment.
<50 is seen as bearish
>50 is seen as bullish

Using this data, it becomes easier to identify unsustainable trends, reversals, divergences

An example of an unsustainable trend and reversal would be if RSI values are overbought ( RSI > 70) yet OBV oscillator remains below 50.
== chances of unsustainable trend reversal are more likely.

For more questions, send me a message here on Tradingview.

Happy trading,
MM :)

Nota Keluaran
BTC MODE off by default now. Turn it on when trading btc.
anchoredobvCentered OscillatorsOn Balance Volume (OBV)OscillatorsreversalVolume

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