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On-Balance Volume (OBV) is a momentum indicator developed in 1963 by Joseph Granville.

OBV shows the importance of volume and its relationship to price. It compares the positive volume flows with the price over a certain period of time.

To confirm that the trend may be weakening, Granville recommends using a 20-period moving average in combination with OBV.

As a result, it is easier for users to track such events by crossing the OBV line with their moving average.

In Forex, the trader has no information about the real volume. Therefore, the OBV/MA bundle works better in the stock market.

  • Type of Volume: the type of volume – tick (Tick) or real (Real).
  • Moving average period: the period of the moving average.
  • Shift of the moving average: shift of the moving average.

    You can include this indicator in an Expert Advisor, script, or other indicator using the iCustom function of the MQL5 language.

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