On-Balance Volume tracks cumulative buying and selling pressure by adding volume on up days and subtracting volume on down days — it often leads price breakouts by showing institutional accumulation or distribution. OBV divergence is one of the strongest early-warning signals available, especially when confirming breakout setups in stocks and crypto. Pair OBV with the Volume Profile for a complete picture of where institutional money is flowing. Browse our indicators hub to discover more volume-based analysis tools.
If today's close > yesterday's close: OBV = previous OBV + today's volume. If today's close < yesterday's close: OBV = previous OBV − today's volume. If close is unchanged, OBV stays the same. The absolute value is less important than the trend.
The Volume Weighted Moving Average weighs each price bar by its volume before averaging, so high-volume bars have more influence on the average than low-volume bars. VWMA gives traders a truer picture of the "agreed-upon" price compared to a standard <a href="/academy/indicators/simple-moving-average" class="text-primary hover:underline">SMA</a>. It is especially useful in <a href="/market/stocks" class="text-primary hover:underline">stock</a> and <a href="/market/crypto" class="text-primary hover:underline">crypto</a> trading on <a href="/tools/platforms/tradingview" class="text-primary hover:underline">TradingView</a>, and can be explored alongside other volume tools in our <a href="/academy/indicators" class="text-primary hover:underline">indicator guide library</a>.
The Positive Volume Index tracks price changes exclusively on days when volume increases, reflecting crowd-driven activity and retail sentiment. PVI works in tandem with the <a href="/academy/indicators/negative-volume-index" class="text-primary hover:underline">NVI</a> to contrast smart-money behaviour with public participation in <a href="/market/stocks" class="text-primary hover:underline">stock</a> and <a href="/market/crypto" class="text-primary hover:underline">crypto</a> markets. Explore our <a href="/academy/indicators" class="text-primary hover:underline">indicator guide library</a> for the full suite of volume-based analytical tools.
The Negative Volume Index tracks price changes exclusively on days when volume decreases, based on the theory that smart money operates during quieter trading sessions. NVI is a long-term tool primarily used in <a href="/market/stocks" class="text-primary hover:underline">stock</a> markets to detect institutional accumulation. Pair it with the <a href="/academy/indicators/positive-volume-index" class="text-primary hover:underline">PVI</a> for a complete picture and browse our <a href="/academy/indicators" class="text-primary hover:underline">indicator guide library</a> for additional volume analysis tools.
The Klinger Volume Oscillator compares volume flowing in and out of a security using an EMA-based approach, aiming to predict price reversals by detecting divergences between volume trends and price. It is a powerful tool for <a href="/market/stocks" class="text-primary hover:underline">stock</a> and <a href="/market/forex" class="text-primary hover:underline">forex</a> traders who prioritise volume analysis. Add the Klinger Oscillator to your <a href="/strategies" class="text-primary hover:underline">trading strategies</a> and explore our <a href="/academy/indicators" class="text-primary hover:underline">indicator guide library</a> for complementary volume tools.