gb50k

On Balance Volume/Price

First, look at the chart, then read.

Use OBV/Price to see a price adjusted by 'On Balance Volume' - (OBV), a momentum indicator that measures positive and negative volume flow, was developed by Joseph Granville and introduced in 1963.

The indicator, together with trend lines , provides good entry/ exit points.
In the chart note the exit point before the crash.
Also, note the "wedge" - a bit lees optimistic that the 'price only' wedge for SPY             .


snapshot
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study(title="On Balance Volume/Price", shorttitle="OBV/PRICE")
src = close
obv = cum(change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume)
plot(obv/src, color=blue, title="Price_OBV")
SEE UPDATE that addresses several problems:
Price vs Vol
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