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OBV

Type: obv • Category: indicators

Description​

On Balance Volume

Parameters​

NameTypeDescriptionRequiredDefault
closestringList of closing pricesno
volumestringList of volumesno

Help​

OBV (On Balance Volume)

Description​

The On Balance Volume (OBV) indicator is a technical analysis tool used in financial markets to measure the buying and selling pressure of a security. It was developed by Joe Granville in the 1960s and is based on the idea that volume precedes price movement.

What does this worker do?​

This worker calculates the On Balance Volume (OBV) indicator for a given set of closing prices and volumes. The OBV indicator is calculated by adding the volume of a security when its price increases and subtracting the volume when its price decreases. If the price remains the same, the volume is not added or subtracted.

How to interpret the results​

The OBV indicator can be used to confirm price movements and identify potential trend reversals. Here are some general guidelines for interpreting the OBV indicator:

  • If the OBV indicator is rising, it indicates that buying pressure is increasing, which can be a sign of a bullish trend.
  • If the OBV indicator is falling, it indicates that selling pressure is increasing, which can be a sign of a bearish trend.
  • If the OBV indicator is diverging from the price, it can be a sign of a potential trend reversal.

Parameters​

The following parameters are required to calculate the OBV indicator:

Parameters Schema (JSON)​

{
  "close": {
    "type": "string",
    "description": "List of closing prices"
  },
  "volume": {
    "type": "string",
    "description": "List of volumes"
  }
}

Parameters List​

  • close:
    • Type: string
    • Description: List of closing prices
    • Format: A comma-separated list of closing prices (e.g., "10.0, 20.0, 30.0")
  • volume:
    • Type: string
    • Description: List of volumes
    • Format: A comma-separated list of volumes (e.g., "100, 200, 300")

Example Usage​

To use this worker, provide a list of closing prices and volumes in the required format. For example:

  • Close prices: "10.0, 20.0, 30.0"
  • Volumes: "100, 200, 300"

The worker will return the calculated OBV indicator values.