On-Balance Volume (OBV)

[DaveSkender]

Community discussion about On-Balance Volume (OBV)

[DaveSkender]

See #433 for discussion on why OBV values look different between charting systems.

[DaveSkender]

@mihakralj

btw, on OBV indicator you are going in the opposite direction: while other libraries use the Volume of the first bar as a starting point, your library starts with 0 - and shifts the complete OBV chain down for the Volume[0]... Is there a source/reason for that?

Original publication is here, but see #433 for more info. This one is almost impossible to compare absolute values, but would expect these to be directionally the same.

The formula is fairly basic. Adding volume is what you do when price increases. It’d be presumptuous to assert that direction on the first bar.