On-Balance Volume (OBV)
Cumulative volume: added on days when price rises, subtracted on days when it falls. On-Balance Volume (OBV) adds the entire day’s volume to the cumulative total when the closing price rises and subtracts it when it falls. A rising OBV along with a rising price confirms an uptrend. A divergence (price rises, OBV falls) signals a weakening trend.
Formula:
If Close > Close_prev: OBV = OBV_prev + VolumeIf Close < Close_prev: OBV = OBV_prev - VolumeIf Close = Close_prev: OBV = OBV_prevTriggers
Section titled “Triggers”| Trigger | Direction | Condition | Description |
|---|---|---|---|
| Level cross up | 🟢 Buy | The indicator value crossed the specified level from below. | The OBV line crosses the configurable level Level from below. Level is set in the trigger parameters. |
| Level cross down | 🔴 Sell | The indicator value crossed the specified level from above. | The OBV line crosses the Level level from above. Level is set in the trigger parameters. |
| Value above level by N | 🟢 Buy | The indicator value rose above the level by the specified distance. | The OBV line crosses the Level + Distance mark moving upward. The distance delays entry until a confirmed level breakout. |
| Value below level by N | 🔴 Sell | The indicator value fell below the level by the specified distance. | The OBV line crosses the Level − Distance mark moving downward. |
| Value rising | 🟢 Buy | The indicator value is rising relative to the previous bar. | The OBV line is higher on the current bar than on the previous one — upward momentum. |
| Value falling | 🔴 Sell | The indicator value is falling relative to the previous bar. | The OBV line is lower on the current bar than on the previous one — downward momentum. Fires on every declining bar. |
| Slope turns positive | 🟢 Buy | The indicator’s slope turned positive — an upward reversal. | The OBV line changes its slope from downward to upward — the indicator stopped falling and started rising. |
| Slope turns negative | 🔴 Sell | The indicator’s slope turned negative — a downward reversal. | The OBV line changes its slope from upward to downward — the indicator stopped rising and started falling. |
| Zero cross up | 🟢 Buy | The indicator line crossed zero from below — a buy signal. | The OBV line crosses the zero level from below. |
| Zero cross down | 🔴 Sell | The indicator line crossed zero from above — a sell signal. | The OBV line crosses the zero level from above. |
Trigger parameters
Section titled “Trigger parameters”| Parameter | Type | Default | Range / Values |
|---|---|---|---|
Level (Value above level by N, Value below level by N, Level cross up, Level cross down) | float | 0 | |
Distance (Value above level by N, Value below level by N) | float | 0 | 0> |
