Volume indicators
OBV: On Balance Volume
Adds the volume on up days and subtracts it on down days, to see whether volume is backing the trend.
La idea en pocas palabras
The idea is that volume moves before price: big players buying quietly push volume up on up days before the price takes off. OBV keeps a running score.
Cómo se calcula
If the close is higher than yesterday's, add today's volume; if lower, subtract it.
OBV = previous OBV + volume (close up)
OBV = previous OBV − volume (close down)
OBV unchanged when the close is unchangedCómo usarlo
- OBV rising with the price: the trend is supported.
- OBV breaking out before the price: a possible early sign of a price breakout.
Sacar conclusiones
- Look at OBV's trend and divergences, not its value.
Ejemplo
An index is flat for a month while OBV keeps rising; the index then breaks out to the upside.
Los precios de los ejemplos son ilustrativos.
Ten cuidado con
- On currencies, metals and CFDs there is no central exchange volume. The chart uses "tick volume", the number of price changes in each candle, which follows real activity closely but is not the number of contracts traded.
Un poco de historia
Joe Granville popularised OBV in his 1963 book "Granville's New Key to Stock Market Profits".
Solo contenido educativo. Ningún indicador ni patrón predice el futuro, y nada de lo aquí expuesto es asesoramiento de inversión.