On-Balance Volume (OBV)

On-Balance Volume (OBV) is a momentum indicator that uses volume flow to predict changes in stock price. Joseph Granville developed the OBV metric in the 1963 book Granville’s New Key to Stock Market Profits. buying pressure is evident when OBV is rising, and selling pressure is evident when OBV is falling.

OBV

=OBV(data)

Example Usage

=OBV(A2:F500)

Parameters

Parameter Type Description Status
data
Range
The input range of columns containing the Date, Open, High, Low, Close, and Volume data.
 Required

Returns

A two-column array of dates and their corresponding OBV values.

On-Balance Volume (OBV) Formula Result in Google Sheets

💡 Interpretation Note

Important: OBV is a cumulative indicator. Its absolute value depends entirely on the start date of your data. Do not compare the specific number (e.g., “50,000”) to other platforms. Instead, look at the slope and direction. If the OBV line is rising while price is falling (divergence), it signals potential buying pressure.