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On Balance Volume Indicator – Technical Analysis

ON Balance Volume Excel Template

In this article, we will be discussing the On Balance Volume (OBV) technical indicator that is used to analyze stock performance.  

I will provide

On Balance Volume Technical Indicator in Excel

What is ‘On Balance Volume’ indicator?

The basic theory behind the On Balance Volume indicator is that volume precedes price. Buying and Selling pressure precede actual price changes, and this indicator measures the buying and selling pressure by using volume.


How to calculate On Balance Volume (OBV)?

Since it is a cumulative type indicator with current value depending on previous value, it makes a difference when you start calculating this indicator.

If you start calculating with price history data of 1 years, versus 5 years, you will have a different OBV value today.

How On Balance Volume indicator is calculated

Trading Signals

When OBV is up, buying pressure is up and when OBV is down, then selling pressure is up.


On Balance Volume Excel Template

The template will help you create the OBV indicator automatically for any stock.


The blue line indicates the Closing price. The Orange line represents the On Balance Volume.


Video Demo


To pull live Stock data from the services you would need Microsoft 365 Subscription Plans for PC and Web

How to create On Balance Volume indicator in Excel?

Type in a stock sticker symbol on the top left.

Input stock symbol

If Excel does not recognize your stock symbol, it will pop up this data selector box.

Select the Stock

You can select the stock you are interested in.


The template can pull up to 5 years of price history by default. You can choose how much history to display on the chart easily using the slicer buttons.


The options are 5 Days, Month Till Date, 1 Month, 3 Months, 6 Months, Year Till Date, 1 Year, 5 Years.


The template allows price history at 3 different intervals.


Daily/Weekly/Monthly are the options.

Input Parameters

Input parameters

There is no input parameter that will change the On Balance Volume calculations in the template.  However you can change the blue line displayed to represent something other than Closing price (which is default) if needed.

Source: Closing price is the one that is used to display as blue line in the chart. However, you can choose to display values from Open, High, Low, Close or Volume.

The chart will update automatically based on all the above inputs.


On the top right you can see the maximum of the last trade time of these currencies.

The default time that Microsoft provides is UTC.  The offset is set to -7 hrs, to convert to pacific time zone.

You can modify this if you need the time in a different time zone.

Visit to view offset.

How to refresh data?

How to refresh Stocks data

For more Excel Templates for Stock Market, visit


Please share your feedback on this template in the Comments below. If you find this useful, please share with your friends who may benefit from this content.

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