Indicators: OBTR On Balance True Range Indicator

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OBTR On Balance True Range Indicator:

The On Balance True Range Indicator is essentially based on the On Balance Volume indicator but uses the Average True Range Period 1 instead of Volume.

Author: marc weedbrook

 
Mrodri:

The issue I have with this indicator is that it repaints, how do you get the version which doesn't repaint? This version I would never use on real money?

Hi,

I have had a close look at your image and do not understand what it has to do with this indicator unless I am missing the obvious.

As far as the Obtr indi is concerned, once the active bar has closed I have not seen any repainting and considering it only calls on the active and previous bar for data, and is based

on a 1 period Atr I cannot see how it can. Obviously as the new bar is forming you will see fluctuation until we get a close.

I have used and tested it on real money as I do all our indicators and have not had any issues with it.

If I have missed something here I welcome your response.

Regards Brooky.

 
Contact me via email when you get a chance: mrodri.rod@gmail.com
 

Hello Brooky,

Thank you for providing a clear explanation of this great indicator. Will talk in the very near future via email. Thanks again for all the help.

Sincerely,

Marc Rod

 

Redraw problem! Please update your code

 

When will OBTR for Metatrader 5 come out?

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