On Balance Volume, OBV:
On Balance Volume Technical Indicator (OBV) is a momentum technical indicator that relates volume to price change.
The indicator, which Joseph Granville came up with, is pretty simple. When the security closes higher than the previous close, all of the day’s volume is considered up-volume. When the security closes lower than the previous close, all of the day’s volume is considered down-volume.
Author: MetaQuotes Software Corp.