On Balance Volume

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OnBalanceVolume(Vector)
OBV(Vector)


Overview
The On Balance Volume index shows a relationship of price and volume in the form of a momentum index.

Interpretation
On Balance Volume generally precedes actual price movements. The premise is that well-informed investors are buying when the index rises and uninformed investors are buying when the index falls.

Recommended Parameters
Vector: CLOSE

Example
set BUY = OBV(CLOSE) > 10000000
Evaluates to buy when OBV is more than 10,000,000

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