When looking at the information of On Balance Volume indicator, a question arises: is it a strong or weak movement? Should it be compared with previous days? These data should be normalized to always have a reference.
This indicator presents the followings parameters:
- Normalization period (Max-Mins absolute)
- Smoothing period (-1 off)
- Tick/Real Volume
- Maximum number of bars to calculate (-1 off)
- Upper value normalization
- Lower value normalization
Calculation: normOBV = (value - absMin) * (relMax - relMin) / (absMax - absMin) + relMin
