OBV

OBV is one of the most popular volume indicators and was developed by Joseph Granville. Constructing an OBV line is very simple: The total volume for each day is assigned a positive or negative value depending on whether prices closed higher or lower that day. A higher close results in the volume for that day to get a positive value, while a lower close results in negative value.

Formula: OBV=SUM(C-CP)/(ABS(C-CP)xV)


C=Today’s Close CP=Yesterday’s Close V=Today’s Volume