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Hi Joe,
The formula that Granville originated for OBV was:
((H-O) + (C-L))/2(H-L)
where:
H=High, L=Low, O=Open & C=Close
I found that this works well for determining accumulation/distribution on
stocks--particularly if the daily numbers are averaged into a weekly figure.
It doesn't work well on commodities or very volatility stocks.
Good luck,
Joe Nemecek
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