Over 10 years ago, Carl Swenlin developed an indicator called Dollar-Weighted Volume (DWV). DWV is variation of On-Balance Volume (OBV), which was developed by the late Joe Granville. DWV is calculated by multiplying the daily volume of each stock in a given market index by the closing price, then adding (or subtracting, if the stock closes down) the result to the cumulative total of DWV for the index.