On Balance Volume/Price

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Sep 11, 2015 5:45 AM

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.

On Balance Volume (OBV)Volume Indicator

Comments

gb50k

⋅ Sep 13, 2015 4:03 AM

SEE UPDATE that addresses several problems:
tradingview.com/script/mru4od6U-Price-vs-Vol/

gb50k

⋅ Feb 28, 2020 12:31 AM

PINE 4 compatable:

//@version=4
study("OBV/PRICE V4")
src = close
obv = cum(change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume)
plot(obv/src, color=color.blue, title="Price_OBV")

alkandars

⋅ Sep 3, 2019 9:55 AM

Thank you for this indicator.