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Data("x") get data object c close(x) c is the array of closing prices v volume(x) v is the array of volume values len length(c) len is the number of elements in the arrays above o v initialize the on balance volume to the same values as the volume array i 1 i is the iterator index, it is initialize to 1 since for any point calculation, the previous value has to be used iterate(len-1) repeat the following block of statments (len - 1) times conditional block displaced moving average mt4 download greater(c[i], c[i-1])) if the current closing price is greater than the previous closing price o[i] o[i-1] v[i] set the current obv value to the previous value plus the current volume value elseif(less(c[i], c[i-1])) else if the current closing price is less than the previous closing price o[i] o[i-1] - v[i] set the current obv value to the previous value minus the current volume value else() else if the current and previous closing prices are the same o[i] o[i-1] set the current obv value to the previous value endif() end the conditional block i i1 increment the main loop iterator index end() main loop block ends here o omovmax(o) normalize the obv array by dividing all the elements displaced moving average mt4 download the array by the maximum value in the array plotOBV plot(o, "obv", "line","000000") plot the on balance volume displaced moving average mt4 download in black chart(plotOBV) display the on balance volume line plot in an indicator displaced moving average mt4 download Plotting Klinger Volume Oscillator using BBScript iterations.

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