or subtracting the result in a continuous sub-total. This example also highlighted the dangers of using this on-volume balance trading strategy mechanically. However, price moved against us with another strong bullish move. Slope of price WMA turns positive but slope of OBV WMA stays negative (divergence). These signals are truly based on the theory that volume precedes prices. On Balance Volume (OBV) measures buying and selling pressure as a cumulative indicator that adds volume on up days and subtracts volume on down days. Therefore, closing prices should be considered when looking for divergences or support/resistance breaks. Potential bullish divergences are found by looking for stocks where price is below the 65-day SMA and 20-day SMA, but OBV and the Accumulation Distribution Line are above the 65-day SMA and 20-day SMA. Trend Confirmation, oBV can be used to confirm a price trend, upside breakout or downside break. Another winning trade from our on-balance volume trading strategy.
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Day.15 share price; volume 8,000 shares. As shown in the first example, in trending markets, this on-balance volume trading strategy coupled with support/resistance levels is a reliable trading approach. Joseph Granvilles track record was controversial but his influence of the stock market was extraordinary for a technical analyst. The test of the same support level showed another pullback that did not have volume support. If the closing prices equals the prior close price then: Current OBV Previous OBV (no change).
See also Trend Trading 101. On balance volume (OBV) uses volume to predict security price movements. (e.g., certain types of oscillators, moving average crossover strategies). On-Balance Volume (OBV) reveals the intent of market players, often before price a ction.
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