My System - My trades.

[varunkochhar]

Raja ji all my messages today regarding using previous day's closing OBV levels as reference point were for you only as you seem to have been stuck up in your shorts of the morning, which were also thrown up by the system. This was to probably give you a heads up for the morning trades.

 

[Happy_Singh]

So to make this concept easier as explained by Happy ji, you may treat the previous day's OBV levels as the new zero levels.

So longs above it and shorts below it. It will give a reference point to act.

ND = Day()!=Ref(Day(),-1);		
LB = Ref(ND,-1);
Ob = OBV();							
Zero = ValueWhen(LB,Ob);
Plot(Zero,"",colorWhite,styleNoLabel|styleNoRescale|styleStaircase|styleDashed);

Happy

 

[vivektrader]

I guess you can arrive at better and deeper stops from 5min.charts. Something to trade like a mini positional.

I was thinking that Entry & ISL be decided by 1min chart, trail and exit on 5min.

 

[vivektrader]

ND = Day()!=Ref(Day(),-1);		
LB = Ref(ND,-1);
Ob = OBV();							
Zero = ValueWhen(LB,Ob);
Plot(Zero,"",colorWhite,styleNoLabel|styleNoRescale|styleStaircase|styleDashed);

Happy

Happy ji do we have to add this code to the previous afl?

 

[varunkochhar]

I was thinking that Entry & ISL be decided by 1min chart, trail and exit on 5min.

If you are using entry and ISL of 1min. charts then how can you use the information from 5min. charts. (1min.charts are much faster). I did not get the logic. Pls try to explain more elaborately. Do you mean that you would be taking the direction of the trend only from 5min.charts ?

 

[vivektrader]

If you are using entry and ISL of 1min. charts then how can you use the information from 5min. charts. (1min.charts are much faster). I did not get the logic. Pls try to explain more elaborately. Do you mean that you would be taking the direction of the trend only from 5min.charts ?

Well consider that trend is same in both 1min and 5min, we use 1min to fine tune our entries,and to define a small stop loss, for holding on to the trade for as long as possible we shift to 5min, may be trail on pivots. I am tuned to 5min., don't know you will find any logic in above.

 

[varunkochhar]

So effectively you would be taking trades off the 1min.charts with sl also derived from these charts (to make them small and manageable) only in the direction of the trend in the 5min.charts. So only taking long signals in 1min. charts if the trend in 5min. charts is up and vice-versa. Am i correct in understanding your point.

 

[vivektrader]

So effectively you would be taking trades off the 1min.charts with sl also derived from these charts (to make them small and manageable) only in the direction of the trend in the 5min.charts. So only taking long signals in 1min. charts if the trend in 5min. charts is up and vice-versa. Am i correct in understanding your point.

Exactly, I feel its easier to hold on a higher TF than to stare at every tick in 1min.

 

[SevenD]

There are times when I am in doubt wether to take a trade or not.
If 1m TF is not showing convincing entry signals as per my limited
knowledge and experience, then I check the 5m TF. In 5m TF if both ribbons
change simultaneous, then I check the flow in 1 M TF with respective
to price, OBV ribbon, pivots, and SL and I take the trade, if it is within my SL.
eg., todays crude chart 5m TF both ribbons (price and OBV) changed to red in price pane
at 2.45 pm and 8.45 pm. Here the HTF dominates and in most cases its a reasonably safe trade.
After that I steer my trade in 1m TF, then Varun Sirs rules and logic applies to the trade in
the 1m TF.
I am not that adept at deciding trades based on 1m TF, at times I also use 3m TF.
Hope I am not confusing anybody here. This is my way of doing things.

Thank You Varunji.

 

[okabira]

I think we should stick with 1 min.. because varunji has traded 1min and knows the IN an OUT of it . ... following the thread many have become adaptable to 1 min esp. for this method....

Switching to 5 Min than to 1 Min and then deciding to take a trade or not .. will be time consuming even if its in seconds.. then why not stick with original..

I agree that Higher time frame is dominant .. but then we will miss out the point of small manageable RISK and the METHOD of BO/BD of obv and price ... at the very moment when it was initiated . i.e 1 min..

if we use 5 Min than why not use 15 min or next higher 30 Min .. ?? it will be more picture then .. isnt it ??

We are already using 30Min and 60Min ribbon for reference ....

I think we would over optimize it ...

" IF it Ain't BROKE dont FIX IT "

Totally my view ..