OBV Slope

How Draconic reads it

On-Balance Volume adds full session volume on up-closes and subtracts it on down-closes, creating a running total that reflects whether volume is net supportive or net opposing to price direction. The slope — whether OBV is rising, flat, or falling — reveals the trend in participation. A rising price with a declining OBV slope is a classic distribution signal: price is advancing but the volume behind it is pointing the other way, suggesting institutions are selling into strength while retail buyers push price higher. This divergence often precedes significant reversals because it reflects a fundamental shift in who is doing what: smart money exiting while price still looks constructive on the chart.