obv_extr

Function Name: obv_extr

Tags: None

Category: Volume

The OBV New Extrems Study indicates whether a new high/low is reached in On Balance Volume.

The On Balance Volume 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.

 

Link:       http://www.onlinetradingconcepts.com/TechnicalAnalysis/OnBalanceVolume.html

 

Period
	Default Value: 15  |  Minimum: 1  |  Maximum: 9999
	Type: Numeric
NBars
	Default Value: 3  |  Minimum: 0  |  Maximum: 100
	Type: Numeric
NewHighs
	Default Value: -1
	Type: Boolean
NewLows
	Default Value: -1
	Type: Boolean
ShowTraderBar
	Default Value: -1
	Type: Boolean
ShowTraderMark
	Default Value: -1
	Type: Boolean