My System - My trades.

[VJAY]

This obv close factor is an important bias decider I think. Why not somebody who is trading this method frame certain rules as a summary post to include all these important factors.
I would have done it if I was trading it. I don't know whether those EMAs are still important or all five ribbons or only 2 or 3 to be used.

Vivek

yes I think too ...I only traded it today for feel the emotion trading BNF
followed this thread ...yesterday varunji posted about this close of obv ...looks great...but need more data to confidence in it

 

[masterjee]

To my mind yesterday close should be the today's open . . .

is it not so ?? or do we add volume when the markets are closed ???

Maybe someone who know better will come along and explain . . .


Happy

Exactly correct Happyji - as obv gets calculated after first time period is over. So yesterdays obv close is reference point for todays begin.

m

 

[Apacheindian]

Shorted Crude 3297 , its a late entry..!


Sent from my iPhone using Tapatalk

Sl hit twice today..!!

 

[vivektrader]

What is the background color of your chart?


if it is white then change the color of the zero line


Happy

The original code was correct, just change line colour to black, it is giving the closing level of yesterday.

 

[varunkochhar]

Just read today's post regarding the OBV confusion. Well the opening level may differ from last day's closing maybe because of the premarket trading. Not sure though but i think you get that 5 minutes window from 9:00 to 9:05 to trade. At that point maybe all the news based trading or the overnight international markets moves get factored in. That said i think if we get the opening values as this line, that is more potent as overnight bias is already factored in these levels. More over this line is very usefull only to guide you about the bias of the market. (meaning it just tells you the general trend or rather mood of the market makers). You can only use this as a reference point. The actual trades would still be given by the ribbons being used. So pls do not be confused about its usage.

 

[Aman1]

Sl hit twice today..!!

Dittoo here. Two hits at SL

 

[varunkochhar]

By using this line one could have got close to 200 points today in shorts. Yesterday it would have given 100+ points in longs.

 

[vivektrader]

Just read today's post regarding the OBV confusion. Well the opening level may differ from last day's closing maybe because of the premarket trading. Not sure though but i think you get that 5 minutes window from 9:00 to 9:05 to trade. At that point maybe all the news based trading or the overnight international markets moves get factored in. That said i think if we get the opening values as this line, that is more potent as overnight bias is already factored in these levels. More over this line is very usefull only to guide you about the bias of the market. (meaning it just tells you the general trend or rather mood of the market makers). You can only use this as a reference point. The actual trades would still be given by the ribbons being used. So pls do not be confused about its usage.

Consider making a spreadsheet/word document, enumerating the rules that are being followed now. Its very difficult to gather what all rules are being followed, and which ones are not part of the system while going through this huge thread.
You can post the link in your signatures.

Vivek

 

[varunkochhar]

Dittoo here. Two hits at SL

How did you trade ? I got 20points 3 times. How could we be trading the same charts differently.

 

[varunkochhar]

Consider making a spreadsheet/word document, enumerating the rules that are being followed now. Its very difficult to gather what all rules are being followed, and which ones are not part of the system while going through this huge thread.
You can post the link in your signatures.

Vivek

Vivek ji everything just cannot be spelt out as a rule. One needs to reason out the logic at times. This last day's closing value can just guide you in your initial trade or the trades in the say 1st hour of trade. Once it moves away from these levels and the market goes sideways then for me the highs and lows of this sideways period becomes the new zero, so to say. If you use this as a rule, then how would one play the vicious pull backs, once the market has done its move decisively to extreme levels intraday and you still stay biased.