Definition. Spot On-Balance Volume (OBV) is a cumulative momentum indicator that relates volume to price changes, adding volume on up days and subtracting volume on down days to gauge the strength behind price movements.

Technical. Computed across spot trades aggregated from exchanges where USD or USD-related currencies serve as the quote.

Interpretation. Positive OBV indicates net accumulation or buying pressure, negative OBV indicates net distribution or selling pressure.