Volume–On Balance Volume Curves
I'm going to say very little about Volume–On Balance Curves (V-OBVs) because they share the same principles with N-OBVs. The difference is that while N-OBVs take a nominal “1” as input to the volume component of the algorithm, V-OBVs take the actual volume feed.
FIGURE 16.6 15m chart of euro September 2010 futures with a seven-day uptrend.
Let's illustrate a V-OBV curve alongside an N-OBV. Figure 16.7 is a daily cash chart of the Sydney All Ordinaries index from 2003 until the present. We see immediately in the lower price pane a standard MIDAS support curve (solid) launched from the 2003 low and being pulled up ...
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