Knowledgebase:
OnBalanceVolume
Posted by Mohammad Rahhal, Last modified by Rawan Al Hourani on 19 June 2016 10:25 AM

Syntax

Public Function OnBalanceVolume(chart_ID As Long, applyTo As ENUM_APPLIED_PRICE,volumeVal As ENUM_VOLUME_METHOD) As String

The On Balance Volume indicator shows a relationship of price and volume as a momentum index. 

On Balance Volume index generally precedes actual price movements. The premise is that well-informed investors are buying when the index raises and

uninformed investors are buying when the index falls.

Parameters

Key Description 
chart_ID Chart identifier, 0 is the current chart ,value of type Long.
applyTo Applied price , can be one of the  ENUM_APPLIED_PRICE.
volumeVal volume type for calculation , can be one of the  ENUM_VOLUME_METHOD.

Return value

Returns the handles of a technical indicator, in case of failure returns a empty string.

Sample

Public Sub main()

AlertMessage (OnBalanceVolume(0,PRICE_CLOSE,VOLUME_OPEN))

'Draws the indicator on chart and shows an Alert Message with the indicator name.

End Sub


See Also


Back to VTL Client Script Index

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