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# OBV: On Balance Volume
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| Property | Value |
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| ---------------- | -------------------------------- |
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| **Category** | Volume |
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| **Inputs** | OHLCV bar (TBar) |
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| **Parameters** | None |
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| **Outputs** | Single series (OBV) |
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| **Output range** | Unbounded |
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| **Warmup** | `> 2` bars |
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### TL;DR
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- On Balance Volume distills the relationship between price and volume into a single cumulative indicator.
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- No configurable parameters; computation is stateless per bar.
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- Output range: Unbounded.
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- Requires `> 2` bars of warmup before first valid output (IsHot = true).
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- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
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> "Volume is the fuel that drives price." — Joseph Granville
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On Balance Volume distills the relationship between price and volume into a single cumulative indicator. The premise is elegantly simple: volume flows into a security when it closes higher, and flows out when it closes lower. OBV tracks this flow as a running total, creating a momentum indicator that often leads price movements.
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@@ -180,4 +197,4 @@ The slope of OBV indicates buying/selling intensity:
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- Murphy, J. (1999). *Technical Analysis of the Financial Markets*. New York Institute of Finance.
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- Investopedia. "On-Balance Volume (OBV)." [Definition](https://www.investopedia.com/terms/o/onbalancevolume.asp)
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- StockCharts. "On Balance Volume (OBV)." [Technical Indicators](https://school.stockcharts.com/doku.php?id=technical_indicators:on_balance_volume_obv)
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- TradingView. "PineScript ta.obv()." [Reference](https://www.tradingview.com/pine-script-reference/v5/#fun_ta{dot}obv)
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- TradingView. "PineScript ta.obv()." [Reference](https://www.tradingview.com/pine-script-reference/v5/#fun_ta{dot}obv)
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