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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.

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


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*Last modified Wednesday, 28th September, 2022.