Highlights
📊 All Markets
💻 MetaTrader 4
🔓 Unlimited
🤖 Set this indicator to auto-trading with NIREDO iTrade Bot
Description
On Balance Volume (OBV) indicator for MT4 measures buying and selling pressure as a cumulative indicator that adds volume on up days and subtracts volume on down days. When the asset closes higher than the previous close, all of the day’s volume is considered up-volume. When the asset closes lower than the previous close, all of the day’s volume is considered down-volume.
The video below shows how OBV Indicator behaves on a chart, as well as its MQL4 Source Code, which you can also download in MQL4 editable format by the link below.
Indicator in Action
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