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On Balance Volume

On Balance Volume ("OBV") is a momentum indicator that relates volume to price change.

Study Type: Stand-alone

Description

On Balance Volume is a running total of volume. It shows if volume is flowing into or out of a security. When the security closes higher than the previous close, all of the day's volume is considered up-volume. When the security closes lower than the previous close, all of the day's volume is considered down-volume.

Formula

On Balance Volume is calculated by adding the day's volume to a cumulative total when the security's price closes up, and subtracting the day's volume when the security's price closes down.I

f today's close is greater than yesterday's close then: OBV = Yesterday's OBV + Today's Volume
If today's close is less than yesterday's close then: OBV = Yesterday's OBV - Today's Volume
If today's close is equal to yesterday's close then: OBV = Yesterday's OBV

Parameters

None