On Balance Volume (OBV) Indicator with Ring Buffer
Info
The On Balance Volume (OBV) Indicator with Ring Buffer is a Indicator for MetaTrader 5 that the cobvonringbuffer class is designed for calculating the technical indicator on balance volume (obv) using a ring buffer algorithm. DeclarationThe CoBVoNRingBuffer.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use On Balance Volume (OBV) Indicator with Ring Buffer
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The CoBVoNRingBuffer class is designed for calculating the technical indicator On Balance Volume (OBV) using a ring buffer algorithm.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Footprint X Ray: Advanced Order Flow and Volume Delta Analysis - another powerful indicator for MetaTrader 5 traders.
The CoBVoNRingBuffer class is designed for calculating the technical indicator On Balance Volume (OBV) using a ring buffer algorithm.Also recommended: Volume Strength Compass by Bhanu Code Lab - similar indicator with strong performance on MetaTrader 5.
Declaration
The CoBVoNRingBuffer.mqh class file should be placed in the InCoNRingBuffer folder, which needs to be created in the MQL5\Include\ directory. Two example files using this class are included in the description, and they should also be placed in the same folder.
Class Methods
The OBV period is used similarly to the standard indicator. If the value is 0 (default), the indicator will be calculated for all bars on the chart, just like the built-in indicator. For any other positive value, the specified number of bars will be used for calculations at each chart bar (following the moving average principle).
To access the calculated indicator data from the ring buffer, you can use standard array indexing. For example:
- Accessing the current value: buffer[0]
- Accessing the previous value: buffer[1]
Please note that indexing in the ring buffer follows the same rules as in standard arrays.
Examples
The test_obv_onArrayRB.mq5 file calculates OBV based on a price time series, demonstrating the mainOnArray() method.
The test_obv_onValueRB.mq5 file shows how to use the mainOnValue() method. It first calculates and draws the OBV indicator, and then uses this indicator's ring buffer to draw another OBV.
Results:
- Test_obv_onArrayRB.mq5 with a ring buffer size of 256 elements.
- Test_obv_onValueRB.mq5 with a ring buffer size of 256 elements.
This class was developed using the work of [developers] in 2026.
You may also like: FVG Imbalance Marker Helper - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_label1 "label1"
#property indicator_type1 draw_line
#property indicator_color1 clrred
#property indicator_width1 1.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.