If the current close is above the previous close, the current bar's volume is added to the total.
If the current close is below the previous close, the current bar's volume is subtracted from the total.
If the current close is equal to the previous close, the value for the OBV is unchanged.
On Balance Volume was developed by Joe Granville.
On Balance Volume Parameters
|
Parameter |
Description |
|
Color |
Line color. |
|
Weight |
Line thickness. |
|
MarkIt |
Opens Specify Conditions window. |
|
Price |
Number of inside price changes, i.e. count of how many times last price has been changed over a time period. |
|
Type |
Volume type. Values: •Tick Only = number of inside price changes, i.e. the count of how many times a last price has been changed over a time period. •Exchange or Tick = exchange volume is used if it’s available, otherwise ticks are used. |
|
Start Time |
Opens sub-window to identify the earliest bar of the calculation: •Number of bars back from current bar •Date and time •Number of days back from current bar |
|
Display |
Line style. Values: •Line •Histogram |
|
Contract or Commodity |
Values: •Auto = existing volume type •Contract •Commodity |