Time Segmented Volume (TSV) is a proprietary technical indicator developed by Worden Brothers that measures buying and selling pressure by comparing the current period's closing price to the previous period's closing price and multiplying the result by the period's volume — aggregated over a specified lookback period. A positive TSV indicates that the closing price is above the prior close on above-average volume — suggesting accumulation and buying pressure. A negative TSV indicates that the closing price is below the prior close on elevated volume — suggesting distribution and selling pressure. TSV is plotted as an oscillator around a zero line, with a moving average signal line to generate crossover signals. When TSV diverges from price — for example, when a stock makes new price highs but TSV fails to confirm with new highs — it suggests weakening buying conviction, often preceding a price reversal. TSV is conceptually similar to the On-Balance Volume (OBV) and Chaikin Money Flow indicators but uses a different calculation methodology. In Indian equity markets, TSV is used by technically sophisticated traders and proprietary trading platforms as a volume-price confirmation tool for identifying accumulation and distribution phases in large-cap stocks and index instruments.
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