Tuna ji it seems you took offence when i said that i donot use any indicators. I have my own reasons which i would like to tell you. My 1st post in this thread was that to get the complete picture we need input both from price and volume. The info desired from price can be got directly from price. Like trend (Higher highs higher lows/lower highs lower lows). Further key levels of support and resistance can be had from earlier support and resistance levels (fixed levels) or from moving averages (dynamic levels) There is nothing other than this information that can be provided by any indicator. Obv steps in to quantify the volume aspect objectively. Now you tell me where do the indicators you talk about fit in. Are they not redundant.
The Best Trading System
- Thread starter Tuna
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No I did not take any offense and you actually sounded something similar to what I said long back on this thread - here:
But all I am saying, that we got something which work for us, does not mean that the rest are usless. I know people making millions every quarters, consistently with help of setups using these indicators. All works - but there are stages of market movement where they work best. But yes, you need to know the price, you need to know what is the trend and then you are good.
But all I am saying, that we got something which work for us, does not mean that the rest are usless. I know people making millions every quarters, consistently with help of setups using these indicators. All works - but there are stages of market movement where they work best. But yes, you need to know the price, you need to know what is the trend and then you are good.
Its all same thing. Overlaying approach is:
1. Get the underlying indicator done first
2. Select the overlay indicator from study menu and change the deault setting (source) on the pop-up (which is "Close") to the indicator you created on point # 1
Once done you will see the main chart area shrink and indicator (2nd one coming at very bottom) of the price chart box. single click on it to select it (you will see mini square all over it). Drag it and drop it over indicator 1.
Let me show you EMA200 over OBV on 1 min char
1. Get the OBV plotted first, you can change the color (blue or Indigo)
2. Then select EMA same way and change the setting of the source field. Also change the color to make easy to identify as the slower one (I generally use red or yellow)
3. Then it will come and bottom like this. You need to single click on it to get the squares and then drag over OBV:
And the final product:
1. Get the underlying indicator done first
2. Select the overlay indicator from study menu and change the deault setting (source) on the pop-up (which is "Close") to the indicator you created on point # 1
Once done you will see the main chart area shrink and indicator (2nd one coming at very bottom) of the price chart box. single click on it to select it (you will see mini square all over it). Drag it and drop it over indicator 1.
Let me show you EMA200 over OBV on 1 min char
1. Get the OBV plotted first, you can change the color (blue or Indigo)
2. Then select EMA same way and change the setting of the source field. Also change the color to make easy to identify as the slower one (I generally use red or yellow)
3. Then it will come and bottom like this. You need to single click on it to get the squares and then drag over OBV:
And the final product:
Last edited:
Its all same thing. Overlaying approach is:
1. Get the underlying indicator done first
2. Select the overlay indicator from study menu and change the deault setting (source) on the pop-up (which is "Close") to the indicator you created on point # 1
Once done you will see the main chart area shrink and indicator (2nd one coming at very bottom) of the price chart box. single click on it to select it (you will see mini square all over it). Drag it and drop it over indicator 1.
Let me show you EMA200 over OBV on 1 min char
1. Get the OBV plotted first, you can change the color (blue or Indigo)
2. Then select EMA same way and change the setting of the source field. Also change the color to make easy to identify as the slower one (I generally use red or yellow)
3. Then it will come and bottom like this. You need to single click on it to get the squares and then drag over OBV:
And the final product:
1. Get the underlying indicator done first
2. Select the overlay indicator from study menu and change the deault setting (source) on the pop-up (which is "Close") to the indicator you created on point # 1
Once done you will see the main chart area shrink and indicator (2nd one coming at very bottom) of the price chart box. single click on it to select it (you will see mini square all over it). Drag it and drop it over indicator 1.
Let me show you EMA200 over OBV on 1 min char
1. Get the OBV plotted first, you can change the color (blue or Indigo)
2. Then select EMA same way and change the setting of the source field. Also change the color to make easy to identify as the slower one (I generally use red or yellow)
3. Then it will come and bottom like this. You need to single click on it to get the squares and then drag over OBV:
And the final product:
How come price and OBV showing near identical pattern? (just a thought, volume might have intensified when price came down so fast)
If this is the norm then how does OBV help in differentiating the intensity of price move?
Its all same thing. Overlaying approach is:
1. Get the underlying indicator done first
2. Select the overlay indicator from study menu and change the deault setting (source) on the pop-up (which is "Close") to the indicator you created on point # 1
Once done you will see the main chart area shrink and indicator (2nd one coming at very bottom) of the price chart box. single click on it to select it (you will see mini square all over it). Drag it and drop it over indicator 1.
Let me show you EMA200 over OBV on 1 min char
1. Get the OBV plotted first, you can change the color (blue or Indigo)
2. Then select EMA same way and change the setting of the source field. Also change the color to make easy to identify as the slower one (I generally use red or yellow)
3. Then it will come and bottom like this. You need to single click on it to get the squares and then drag over OBV:
And the final product:
1. Get the underlying indicator done first
2. Select the overlay indicator from study menu and change the deault setting (source) on the pop-up (which is "Close") to the indicator you created on point # 1
Once done you will see the main chart area shrink and indicator (2nd one coming at very bottom) of the price chart box. single click on it to select it (you will see mini square all over it). Drag it and drop it over indicator 1.
Let me show you EMA200 over OBV on 1 min char
1. Get the OBV plotted first, you can change the color (blue or Indigo)
2. Then select EMA same way and change the setting of the source field. Also change the color to make easy to identify as the slower one (I generally use red or yellow)
3. Then it will come and bottom like this. You need to single click on it to get the squares and then drag over OBV:
And the final product:
How come price and OBV showing near identical pattern? (just a thought, volume might have intensified when price came down so fast)
If this is the norm then how does OBV help in differentiating the intensity of price move?
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