OnBalanceVolume does not adjust for the size of a price move. PointsPerShare takes the size and direction of a a move (default on the pivot) and gets the sign like OBV but the magnitude is normalized to the ATR. Thus, for example, a doji with large volume but 1 cent up will give basically no additive amount while OBV would show a large amount up. PointsPerShare has been showing very good divergence indications for swing entries, and K-D crossovers look good for breakouts.
The SPY shows one example, where there were lower lows in price and higher lows in PointsPerShare
This divergence marked a reversal in the SPX (PPS doesn't work on the index, since it has no volume component).
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thinkorswim PointsPerShare 2016-06-29
OnBalanceVolume blended with price movement to get a view of money flow.