A cumulative volume indicator that weights each day's volume by where the close sits within the bar's range. A finer reading than OBV of who controlled the session.
Related Studies
OBV (On-Balance Volume)
A cumulative volume indicator that exposes the demand flow hidden behind price. Divergence between price and OBV is what reveals quiet accumulation and quiet distribution.
VWAP (Volume Weighted Average Price)
The intraday average price weighted by traded volume. The institutional benchmark — a single number for what the session truly transacted at.