Technical Studies Reference


On Balance Volume

This study calculates and displays On Balance Volume.

Let \(C_t\) be the value of the Close Price at Index \(t\). We denote the value of the On Balance Volume at Index \(t\) as \(V^{(OB)}_t\), and we initialize it to zero internally (that is, \(V^{(OB)}_0 = 0)\), though this initial value is not displayed as output. We compute \(V^{(OB)}_t\) in terms of the Volume for \(t > 0\) as follows.

\(\displaystyle{V^{(OB)}_t = \left\{ \begin{matrix} V^{(OB)}_{t - 1} + V_t & C_t > C_{t - 1} \\ V^{(OB)}_{t - 1} & C_t = C_{t - 1} \\ V^{(OB)}_{t - 1} - V_t & C_t < C_{t - 1} \end{matrix}\right .}\)

Inputs

  • This study has no Inputs.

Spreadsheet

The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through File >> Open Spreadsheet.

On_Balance_Volume.15.scss


*Last modified Monday, 02nd April, 2018.