OBTR On Balance True Range Indicator is based on the idea of using the range in order to overcome some of the limitations of any other volumes indicator.
I suggest to use it in combination with a momentum indicator as signal confirmation.
- Gray: MA close to OBTR: Breakout or Trend Continuation;
- Gray: MA far from OBTR: Take Profit;
- Blue: Long Signal;
- Orange: Short Signal.
- File: OBTR.mq4
- Size: 7 Kb