Trading with OBV - for Beginners only !!

S

SevenD

Well-Known Member
#21
#21
Vijkris
You had done a wonderful job with Subhadip's thread about pivots, depicting individual rules with a chart,
that left no room for ambiguity, a picture says it all.
Many are not well versed with English, and that's the reason of so much rabble on Varunji's thread.
Maybe if time permits you could do the same, in this thread

You are doing great!:thumb:
 
C

coolabhi99

Active Member
#22
#22
Vijkris,

You are fabulous(Kevvu Keka)!!!!

You have helped one and all by creating a thread so that it is easy to understand the concepts with the help of charts. Also to have the needed AFLs at the ready reference is amazing stuff.

This is really a great help for traders. Please keep up the good work. Great Spirit and Commitment. Cant express in words.

Also a BIG THANK YOU to Varun Sir for sharing his idea and experience in public as well as to Happy Singhji who has made everyone happy.

Thanks once again.

Regards,
 
Happy_Singh

Happy_Singh

Happy
#23
#23
XRAY27 said:
Depending on time scale it will change the bias !!!

3 min it was bullish and 1 min it is bearish !!!
Click to expand...
Its just like yesterday's Close/Today's Open both combined into one . . .

It will tell you where is today's volume going . . .

For zero line stick to lowest TF available (most have 1 minute)

Those who want higher granularity would be already using Foot Print charts with tick data :lol:

Happy :)
 
XRAY27

XRAY27

Well-Known Member
#24
#24
Happy_Singh said:
Its just like yesterday's Close/Today's Open both combined into one . . .

It will tell you where is today's volume going . . .

For zero line stick to lowest TF available (most have 1 minute)

Those who want higher granularity would be already using Foot Print charts with tick data :lol:

Happy :)
Click to expand...
Back testing 90 trades with all setups in 1 min will unfold the story :lol: i have done my part of testing and not following it as it is for my health and ledger :D
 
B

Bull Share

Active Member
#25
#25
General perception or advice to newbees always is to avoid intraday & do only positional. even if in intraday to avoid lower timeframes.
but for the first time, i m seeing a good method on 1 min tf. that to gurus trading it & updating daily trades.

keep up the good work all

thanks
 
vijkris

vijkris

Learner and Follower
#26
#26
XRAY27 said:
Back testing 90 trades with all setups in 1 min will unfold the story :lol: i have done my part of testing and not following it as it is for my health and ledger :D
Click to expand...
I was silent from morning, since I am backtesting using pdc... ;)

IMO, Restricting one or 2 trades max per day will save the ledger.. :D

Those 20% trend days where max money can be made comes once in a while and the first trade of the day usually does not hit tsl for few hours atleast...

Once the first trade tsl hit means we have to compulsorily assume that today is not a trending day. So in that case if we dance along with change in ribbon, our ledger will be nasty.. :lol:

If anyone wants to trade in weak trending days, then they should become pro, and use extra concepts(15/30/60 ribbons, 5tf,HH LL, Dow theory) like what varun ji is using...

Or

once 1st trade sl is hit. Change our attitude to scalper, use 1st method, along with direction set by pdc. No trailing.. just exit at 1:2..
 
XRAY27

XRAY27

Well-Known Member
#27
#27
vijkris said:
I was silent from morning, since I am backtesting using pdc... ;)

IMO, Restricting one or 2 trades max per day will save the ledger.. :D

Those 20% trend days where max money can be made comes once in a while and the first trade of the day usually does not hit tsl for few hours atleast...

Once the first trade tsl hit means we have to compulsorily assume that today is not a trending day. So in that case if we dance along with change in ribbon, our ledger will be nasty.. :lol:

If anyone wants to trade in weak trending days, then they should become pro, and use extra concepts(15/30/60 ribbons, 5tf,HH LL, Dow theory) like what varun ji is using...

Or

once 1st trade sl is hit. Change our attitude to scalper, use 1st method, along with direction set by pdc. No trailing.. just exit at 1:2..
Click to expand...
Bring in with back tested report !!! whole picture will come to you !!! this is what i want to tell people, each setup needs a MM !!! so move people to that direction also ,so that people won't burn there hands doing every possible direction !!!

If you observe the thread of varun ji it is moving at fast rate !!! without any direction to setups discussed as a whole with daily addition ,anyways just a friendly suggestion !!!, i cannot put this post there you know the reason ;)
 
XRAY27

XRAY27

Well-Known Member
#29
#29
XRAY27 said:
Bring in with back tested report !!! whole picture will come to you !!! this is what i want to tell people, each setup needs a MM !!! so move people to that direction also ,so that people won't burn there hands doing every possible direction !!!

If you observe the thread of varun ji it is moving at fast rate !!! without any direction to setups discussed as a whole with daily addition ,anyways just a friendly suggestion !!!, i cannot put this post there you know the reason ;)
Click to expand...
i will add my points to make this system dependable to traders !!! done my work in 3min TF.. just give me some time !!!
 
XRAY27

XRAY27

Well-Known Member
#30
#30
This is beginners guide to OBV..i'm adding definition of OBV for reference which is vital before jumping into trading !!!

What is 'On-Balance Volume (OBV)'

On-balance volume (OBV) is a momentum indicator that uses volume flow to predict changes in stock price. Joseph Granville developed the OBV metric in the 1960s. He believed that, when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward, and vice versa.

The OBV is a running total of volume (positive and negative). There are three rules implemented when calculating the OBV. They are:

1. If today's closing price is higher than yesterday's closing price, then: Current OBV = Previous OBV + today's volume

2. If today's closing price is lower than yesterday's closing price, then: Current OBV = Previous OBV - today's volume

3. If today's closing price equals yesterday's closing price, then: Current OBV = Previous OBV

Never forget the bold and underline one !!!

Source :investopedia


Tomorrow i will post the chart (which is almost same as ribbon method) but with small changes and also rules of it !!!
 
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