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Verified the OBV number based in Joe Granville's 1976 book
Perfect match!
Excellent Tomasz!
--- In amibroker@xxxxxxxxxxxxxxx, "run_for_your_life2003"
<run_for_your_life2003@xxxx> wrote:
>
> Thanks!
>
> I believe I found the recent Message posting.
>
> Raw OBV
>
> http://finance.groups.yahoo.com/group/amibroker/message/88042
>
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, Graham <kavemanperth@xxxx> wrote:
> >
> > OBV has just had a discussion in past few days. TJ even gave a
> formula for it.
> > Just use OBV() for OBV. It comes with built in chart even.
> > from the help files
> > OBV - On Balance Volume
> > OBV was created by Joe Granville, the father of OBV analysis.
This
> is
> > a running total of volume that relates price changes and volume
and
> > shows accumulation and distribution action.
> >
> > The classic OBV is calculated by adding today's total volume to a
> > cumulative total when price closes higher than yesterday's close
> and
> > subtracting today's total volume from the cumulative when the
price
> > closes lower than yesterday's close. If price remains the same,
> then
> > the OBV is not changed. The actual amount of the price change is
> > irrelevant and only the direction of change is significant for
> these
> > calculations.
> >
> >
> > On 10/10/05, run_for_your_life2003 <run_for_your_life2003@xxxx>
> wrote:
> > > As we all know what this indicator does....except one thing
> that's
> > > item #3 below.
> > >
> > > Does Amibroker take this into consideration in that indicator?
> > >
> > > Most of the charting programs do item #1 and #2 very well but
> not #3.
> > > #3 is usually given as a down designation even though the
close
> is
> > > the same as yesterday's close. Why is that?
> > > Normally, you don't have a close of the same as the next day.
> > > What code do I need to add to get the correct results?
> > >
> > > Is it because they never really look in Chapter 3 (under Volume
> > > Complex) and followed the rules?..... "Granville New strategy
of
> > > daily stock market timing for MAXIMUM PROFIT" by Joe Granville.
> > >
> > >
>
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
> > > As stated above, OBV is calculated by adding the day's volume
to
> a
> > > running cumulative total when the security's price closes up,
and
> > > subtracts the volume when it closes down.
> > >
> > > 1) For example, if today the closing price is greater than
> > > yesterday's closing price, then the new
> > >
> > > OBV = Yesterday's OBV + Today's Volume
> > >
> > > 2) If today the closing price is less than yesterday's closing
> > > price, then the new
> > >
> > > OBV = Yesterday's OBV - Today's Volume
> > >
> > > 3) If today the closing price is equal to yesterday's closing
> price,
> > > then the new
> > >
> > > OBV = Yesterday's OBV
> > >
> > >
> > > http://stockcharts.com/education/IndicatorAnalysis/indic-
obv.htm
> > >
> > >
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > > Please note that this group is for discussion between users
only.
> > >
> > > To get support from AmiBroker please send an e-mail directly to
> > > SUPPORT {at} amibroker.com
> > >
> > > For other support material please check also:
> > > http://www.amibroker.com/support.html
> > >
> > >
> > > Yahoo! Groups Links
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> >
> >
> > --
> > Cheers
> > Graham
> > AB-Write >< Professional AFL Writing Service
> > Yes, I write AFL code to your requirements
> > http://e-wire.net.au/~eb_kavan/ab_write.htm
> >
>
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