On Balance Volume indicator is a sum of negative and positive volume values. Negative volume happens when the close is higher than the previous close and is subtracted from the running total, positive volume is added to the running total and takes place when the close is lower than the previous close.


obvArray[] = close>close[-1] ? obvArray+=volume : (close[-1]>close ? obvArray-=volume : 0)


Rising On Balance Volume with prices flat or still trending lower may signal a buying opportunity, when OBV brakes out to the downside a sell signal is triggered.

inteliCharts - On Balance Volume
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