• Technical Studies Reference
• Common Study Inputs (Opens a new page)
• Using Studies (Opens a new page)

Description

This study calculates and displays the On Balance Volume over a specific length of bars.

Let $C_t$ be the value of the Close Price at Index $t$. We denote the Signed Volume at Index $t$ as $V^{(\pm)}_t$, and we initialize this quantity to zero (that is, $V^{(\pm)}_0 = 0$). We compute the Signed Volume for $t > 0$ in terms of the Volume as follows.

Let the Length Input be denoted as $n$. We denote the On Balance Volume - Short Term for this Input at Index $t$ as $V^{(OB)}_t(n)$, and we describe the calculation of this quantity below.

For $0 \leq t < n$, $V^{(OB)}_t(n)$ is calculated internally as follows. These values are not displayed as output.

The above formula is equivalent to $V^{(OB)}_t(n) = V^{(OB)}_t$, where $V^{(OB)}_t$ is the On Balance Volume. That is, for $0 \leq t < n$, the On Balance Open Volume - Short Term is equivalent to the ordinary On Balance Volume.

For $t \geq n$, $V^{(OB)}_t(n)$ is calculated as follows. These values are displayed as output.