How to Scan Stocks Using OBV on Free Tools

Want to identify breakout stocks or trend reversals powered by real volume? You don’t need expensive software. This guide shows you how to scan stocks using OBV (On Balance Volume) with free tools like TradingView, Chartink, and more.

Using OBV for scanning helps you track smart money movements and avoid weak setups with poor volume backing.

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Why Scan Using OBV?

OBV-based scans help you:

• Detect volume-confirmed breakouts
• Spot bullish or bearish divergences
• Find accumulation before price moves
• Filter high-quality setups with volume support

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Tool #1: TradingView (Free & Paid)

How to Scan with OBV on TradingView:

1. Go to tradingview.com
2. Use the “Stock Screener” at the bottom
3. While OBV isn’t available directly in the screener, you can:
   • Add OBV to chart
   • Create alerts or use Pine Script to code custom OBV filters
   • Use public community scripts (search “OBV Screener” in Indicators)

Tip:

Use OBV + price breakout filters together for confirmation.

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Tool #2: Chartink (India-focused)

OBV Screener Example:

textCopyEditLatest OBV > OBV 1 day ago
AND
Close > Previous High
AND
Volume > 20-day average volume

• Go to chartink.com
• Create your custom scan with the above logic
• Run daily to filter OBV-backed breakout stocks

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Tool #3: Finviz (for U.S. Markets)

Finviz doesn’t directly support OBV but:

• Use it to pre-filter stocks by price, volume, sector
• Then analyze OBV manually on TradingView

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Tool #4: Investing.com (Global Markets)

• Use Investing.com Screener
• Combine technical filters with volume/RSI
• View charts with OBV added under “Technical Indicators”

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Manual Workflow (Fast Process)

1. Use Finviz, Chartink, or Investing.com to filter top stocks by:
   • Price > 50
   • Volume > 500K
   • Technical: Breakout or Trending
2. Open shortlisted stocks in TradingView
3. Apply OBV indicator
4. Confirm OBV is rising or breaking past resistance

This hybrid method is simple and effective for both intraday and swing setups.

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Example Scan Result

• Ticker: HDFCBANK
• Chartink shows OBV rising for 3 days
• Price breaks recent resistance
• OBV confirms volume participation
• Ideal long setup

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Final Thoughts

Learning how to scan stocks using OBV with free tools gives you an edge without paying for premium screeners. Combine OBV scans with price action, breakouts, or RSI filters, and you’ll quickly spot high-conviction trading opportunities.

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FAQs

1. Can I scan using OBV on TradingView free plan?
Not directly, but you can use custom scripts or visual scanning.

2. What is the best free OBV screener for Indian stocks?
Chartink is highly recommended for OBV-based stock scans.

3. How often should I run an OBV screener?
Daily for swing trades; intraday for short-term setups.

4. Does OBV scanning work in all markets?
Yes—OBV works on stocks, crypto, forex (with volume data).

5. Should I use OBV alone in scans?
No—combine OBV with price, volume, and confirmation filters for best results.