Function Name: obv
Category: Price, Volume
The On Balance Volume indicator is calculated as the continuous consecutive sum of volumes, whereby the entire volume of the day is added to the volume of the previous day's OBV, if today's closing price is above yesterday's closing price, and entire volume of the day is subtracted from the volume of the previous day's OBV if today's closing price is below yesterday's closing price.
The use of both price and volume provides a different perspective from price or volume alone. For example, higher prices with light volume will cause On Balance Volume to rise slowly, possibly indicating that the trend lacks conviction.