OnBalanceVolume(String,Series) Method
On Balance Volume ("OBV") is a momentum indicator developed by Joe Granville that relates volume to price change.
Syntax
'Declaration Public Overloads Shared Function OnBalanceVolume( _ ByVal seriesName As String, _ ByVal s As Series _ ) As Series
'Usage Dim seriesName As String Dim s As Series Dim value As Series value = FinancialEngine.OnBalanceVolume(seriesName, s)
public static Series OnBalanceVolume( string seriesName, Series s )
Parameters
- seriesName
- The name of the series which will be displayed on the chart, i.e. its label.
- s
- An series where the first element is the closing price in the last trading period, the second term is the closing price in the previous trading period and so on.
Remarks
Indicator Formula
The formula for this indicator is:
If today's close is greater than yesterday's close then:
OBV = Yesterday's OBV + Today's Volume
If today's close is less than yesterday's close then:
OBV = Yesterday's OBV - Today's Volume
If today's close is equal to yesterday's close then:
OBV = Yesterday's OBV
Requirements
Target Platforms: Windows 7, Windows Vista SP1 or later, Windows XP SP3, Windows Server 2008 (Server Core not supported), Windows Server 2008 R2 (Server Core supported with SP1 or later), Windows Server 2003 SP2
See Also