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This page contains the formula for On Balance Volume and you can download the formula in Excel spreadsheet.

On Balance Volume

On Balance Volume was developed by Joe Granville and is one of the first volume indicators in the technical analysis. It is used to analyze ppositive and negative volume flow. By understanding that there is no price movement without volume and that there is no volume without price change.

Formula:

When the current bar close is higher than the previous bar close
OBV = previous bar OBV + current bar Volume
When the current bar close is below the previous bar close
OBV = previous bar OBV - current bar volume
When the current bar close is the same as previous bar close
OBV = yesterday's OBV

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