On Balance Volume

On Balance Volume

obv( [, sym() | inv()] [, barIndex] )

On Balance Volume (OBV) is a cumulative total of volume. It shows if volume is flowing into or out of a security. When an issue closes higher than its previous close, all of the day's volume is considered to be up-volume. When the issue closes lower than the previous close, all of the day's volume is considered to be down-volume.

Parameters

To Create a Series

var myStudy = null;

var bInit = false;

function main() {

var myVar;

       if ( bInit == false ) {

               myStudy = obv();

               bInit = true;

       }

       //retrieve the current value

       myVar = myStudy.getValue(0);

       return( myVar );

}

To Retrieve a Single Value

function main() {

       ...

       ...

       myVar = obv();

       //do something with the value in myVar

}

Calling Examples

       //create a study that uses IBM as the symbol along with whatever bar

       //interval you are using in the chart where the script is loaded

       myStudy = obv( sym( "IBM") );

       //create a study that uses the 15-min bar interval, regardless of the bar 

       //interval of the chart in which the script is loaded

       myStudy = obv( inv(15) );

       //create a study that uses the Daily bar interval, regardless of the bar 

       //interval of the chart in which the script is loaded

       myStudy = obv( inv("D") );

       //create a study that will be based on MSFT 30-min bars, regardless of

       //the symbol/bar interval of the chart in which the script is loaded.

       myStudy = obv( sym( "MSFT,30" ) );

offsetSeries()