TFlow On Balance Volume is the running sum of the difference between bid and ask volume for each TFlow bar. The starting point of this sum is selected via study parameters. This study only works when applied to TFlow bars. It works with aggregated TFlow bars as well.
This study provides more complete information compared to the on balance volume (OBV) study applied to standard time-based price bars. The classic OBV study is the running sum of total volume traded for the price bar. The current bar’s volume is added to the previous value if the bar closes higher than the previous bar and the total traded volume is subtracted if the bar closes lower than the previous bar. You don’t know how much of the traded volume was actually buying or selling volume. TFlow OBV provides the actual measure of difference between buying and selling volume in the calculation.
TFOVB works can be applied to any chart that shows bid/ask volume.
TFlow On Balance Volume Parameters
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Parameter |
Description |
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Display |
Opens sub-window to set parameters •Color = Line color. •Weight = Line thickness. •Display = Line style: line or histogram. •ShareScale = Determines whether sharing of the vertical scales between studies is accepted. Auto = System determine whether sharing is feasible. On = Scale is shared regardless of the functions and studies displayed. Off = Scale is not shared. ShareScale must be On if study is overlaid on a study with multiple outputs. |
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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 |