My System - My trades.

[varunkochhar]

I see that most people come with the problems and throw the problem to other people and expect readymade ideal solutions.Trading success is not interested in knowing the problems but it is interested to see how YOU solve those problems in best possible way.

Smart_trade

Just what i was about to say. It is very easy to come up with problems. The difficult part is to find solutions. This finding a solution gives one a unique edge in the markets (trading). And it gives you immense satisfaction (not to talk about profits, which i always maintain, is a bi-product of being right)

 

[varunkochhar]

So how does one initiate a coverage in ones wishlist stock when one gets a buy signal in HTF charts. I start of by selling an in the money put. Say for example if i got a buy signal in Yes Bank at say 1470 then i would sell a 1470 put to start with at 25-30 rupees. The reason being, even if the underlying remains sideways, i will get to keep this 25-30 rupees premium. Second scenario Yes Bank goes up. I make 25-30 rupees and i just might buy an out of the money call of say worth Rs.10 (out of this premium) and get to earn more on this call. Third scenario, Yes bank goes down then i will lose when it goes below 1440-45 (where i can buy for the long term if it is worth my while). I would get to buy it 25-30 rupees cheaper than what it is at present. This strategy is best employed for buying blue chips at cheaper rates.

 

[BearsTruth]

Sorry guys for asking this - what indicators apart from OBV is required for OBV method setup.

Thanks

 

[aja]

Sorry guys for asking this - what indicators apart from OBV is required for OBV method setup.

Thanks

nothing but OBV..

 

[monkeybusiness]

Sorry guys for asking this - what indicators apart from OBV is required for OBV method setup.

Thanks

OBV Pane

//================================================== ================================================== =======================
GraphXSpace=5;
_SECTION_BEGIN("On Balance Volume");
Ob = OBV();	e36 = EMA(Ob,36);	e200 = EMA(Ob,200);
Plot(Ob,"",colorWhite,styleNoTitle|styleThick);
Plot(0,"",colorWhite,styleNoLabel|styleNoRescale|styleDashed,0,0,5,-5);
Plot(e200,"",colorBrightGreen,styleNoLabel|styleNoRescale);
Plot(e36, "",colorGold,styleNoLabel|styleNoRescale|styleDashed);
_SECTION_END();


_SECTION_BEGIN("OBV & Price Hi Lo Breaks");
Ob = OBV();
H15 = HHV(Ob,15);	L15 = LLV(Ob,15);	B1 = Cross(Ob,Ref(H15,-1));	S1 = Cross(Ref(L15,-1),Ob);
H30 = HHV(Ob,30);	L30 = LLV(Ob,30);	B2 = Cross(Ob,Ref(H30,-1));	S2 = Cross(Ref(L30,-1),Ob);
H60 = HHV(Ob,60);	L60 = LLV(Ob,60);	B3 = Cross(Ob,Ref(H60,-1));	S3 = Cross(Ref(L60,-1),Ob);

B1 = ExRem(B1,S1);	S1 = ExRem(S1,B1);	UP1 = Flip(B1,S1);	DN1 = Flip(S1,B1);
B2 = ExRem(B2,S2);	S2 = ExRem(S2,B2);	UP2 = Flip(B2,S2);	DN2 = Flip(S2,B2);
B3 = ExRem(B3,S3);	S3 = ExRem(S3,B3);	UP3 = Flip(B3,S3);	DN3 = Flip(S3,B3);

P15 = HHV(H,15);	Q15 = LLV(L,15);	X1 = Cross(C,Ref(P15,-1));	Y1 = Cross(Ref(Q15,-1),C);
P30 = HHV(H,30);	Q30 = LLV(L,30);	X2 = Cross(C,Ref(P30,-1));	Y2 = Cross(Ref(Q30,-1),C);
P60 = HHV(H,60);	Q60 = LLV(L,60);	X3 = Cross(C,Ref(P60,-1));	Y3 = Cross(Ref(Q60,-1),C);

X1 = ExRem(X1,Y1);	Y1 = ExRem(Y1,X1);	LG1 = Flip(X1,Y1);	SH1 = Flip(Y1,X1);
X2 = ExRem(X2,Y2);	Y2 = ExRem(Y2,X2);	LG2 = Flip(X2,Y2);	SH2 = Flip(Y2,X2);
X3 = ExRem(X3,Y3);	Y3 = ExRem(Y3,X3);	LG3 = Flip(X3,Y3);	SH3 = Flip(Y3,X3);

B15 = UP1 AND LG1;	S15 = DN1 AND SH1;
B30 = UP2 AND LG2;	S30 = DN2 AND SH2;
B60 = UP3 AND LG3;	S60 = DN3 AND SH3;

B15 = ExRem(B15,S15);	S15 = ExRem(S15,B15);	UP15 = Flip(B15,S15);	DN15 = Flip(S15,B15);
B30 = ExRem(B30,S30);	S30 = ExRem(S30,B30);	UP30 = Flip(B30,S30);	DN30 = Flip(S30,B30);
B60 = ExRem(B60,S60);	S60 = ExRem(S60,B60);	UP60 = Flip(B60,S60);	DN60 = Flip(S60,B60);

Plot(30,"",IIf(UP15,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,200,0,0,10);
Plot(20,"",IIf(UP30,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,250,0,0,10);
Plot(10,"",IIf(UP60,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,550,0,0,10);

Title = "Varun's OBV & Price Breakout Ribbons, Topmost: 15 Minutes, Lowest: 60 Minutes & Middle 30 Minutes";
_SECTION_END();

Price Pane

_SECTION_BEGIN("Price Hi Lo"); 

HiP= HHV(H,15); LoP= LLV(L,15); 

B2 = Cross(C,Ref(HiP,-1)); S2 = Cross(Ref(LoP,-1),C); 

B2 = ExRem(B2,S2); S2 = ExRem(S2,B2); 

UP2 = Flip(B2,S2); DN2 = Flip(S2,B2); 

Plot(40,"",IIf(UP2,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,400,0,-5,8); 
//Plot(4,"",IIf(UP2,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleNoLine|styleDots,0,200); 
//Plot(2,"",IIf(UP1,colorBlue,colorRed),styleOwnScal e|styleNoLabel|styleNoLine|styleDots,0,200); 
_SECTION_END();

 

[monkeybusiness]

AFL' s posted above, that's all.

All credit to Happy Singh Ji and Vijaybhai

 

[varunkochhar]

Sorry guys for asking this - what indicators apart from OBV is required for OBV method setup.

Thanks

this is an indicator free method. only pure price and volumes(OBV).

 

[vijkris]

OBV Pane

//================================================== ================================================== =======================
GraphXSpace=5;
_SECTION_BEGIN("On Balance Volume");
Ob = OBV();	e36 = EMA(Ob,36);	e200 = EMA(Ob,200);
Plot(Ob,"",colorWhite,styleNoTitle|styleThick);
Plot(0,"",colorWhite,styleNoLabel|styleNoRescale|styleDashed,0,0,5,-5);
Plot(e200,"",colorBrightGreen,styleNoLabel|styleNoRescale);
Plot(e36, "",colorGold,styleNoLabel|styleNoRescale|styleDashed);
_SECTION_END();


_SECTION_BEGIN("OBV & Price Hi Lo Breaks");
Ob = OBV();
H15 = HHV(Ob,15);	L15 = LLV(Ob,15);	B1 = Cross(Ob,Ref(H15,-1));	S1 = Cross(Ref(L15,-1),Ob);
H30 = HHV(Ob,30);	L30 = LLV(Ob,30);	B2 = Cross(Ob,Ref(H30,-1));	S2 = Cross(Ref(L30,-1),Ob);
H60 = HHV(Ob,60);	L60 = LLV(Ob,60);	B3 = Cross(Ob,Ref(H60,-1));	S3 = Cross(Ref(L60,-1),Ob);

B1 = ExRem(B1,S1);	S1 = ExRem(S1,B1);	UP1 = Flip(B1,S1);	DN1 = Flip(S1,B1);
B2 = ExRem(B2,S2);	S2 = ExRem(S2,B2);	UP2 = Flip(B2,S2);	DN2 = Flip(S2,B2);
B3 = ExRem(B3,S3);	S3 = ExRem(S3,B3);	UP3 = Flip(B3,S3);	DN3 = Flip(S3,B3);

P15 = HHV(H,15);	Q15 = LLV(L,15);	X1 = Cross(C,Ref(P15,-1));	Y1 = Cross(Ref(Q15,-1),C);
P30 = HHV(H,30);	Q30 = LLV(L,30);	X2 = Cross(C,Ref(P30,-1));	Y2 = Cross(Ref(Q30,-1),C);
P60 = HHV(H,60);	Q60 = LLV(L,60);	X3 = Cross(C,Ref(P60,-1));	Y3 = Cross(Ref(Q60,-1),C);

X1 = ExRem(X1,Y1);	Y1 = ExRem(Y1,X1);	LG1 = Flip(X1,Y1);	SH1 = Flip(Y1,X1);
X2 = ExRem(X2,Y2);	Y2 = ExRem(Y2,X2);	LG2 = Flip(X2,Y2);	SH2 = Flip(Y2,X2);
X3 = ExRem(X3,Y3);	Y3 = ExRem(Y3,X3);	LG3 = Flip(X3,Y3);	SH3 = Flip(Y3,X3);

B15 = UP1 AND LG1;	S15 = DN1 AND SH1;
B30 = UP2 AND LG2;	S30 = DN2 AND SH2;
B60 = UP3 AND LG3;	S60 = DN3 AND SH3;

B15 = ExRem(B15,S15);	S15 = ExRem(S15,B15);	UP15 = Flip(B15,S15);	DN15 = Flip(S15,B15);
B30 = ExRem(B30,S30);	S30 = ExRem(S30,B30);	UP30 = Flip(B30,S30);	DN30 = Flip(S30,B30);
B60 = ExRem(B60,S60);	S60 = ExRem(S60,B60);	UP60 = Flip(B60,S60);	DN60 = Flip(S60,B60);

Plot(30,"",IIf(UP15,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,200,0,0,10);
Plot(20,"",IIf(UP30,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,250,0,0,10);
Plot(10,"",IIf(UP60,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,550,0,0,10);

Title = "Varun's OBV & Price Breakout Ribbons, Topmost: 15 Minutes, Lowest: 60 Minutes & Middle 30 Minutes";
_SECTION_END();

Price Pane

_SECTION_BEGIN("Price Hi Lo"); 

HiP= HHV(H,15); LoP= LLV(L,15); 

B2 = Cross(C,Ref(HiP,-1)); S2 = Cross(Ref(LoP,-1),C); 

B2 = ExRem(B2,S2); S2 = ExRem(S2,B2); 

UP2 = Flip(B2,S2); DN2 = Flip(S2,B2); 

Plot(40,"",IIf(UP2,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,400,0,-5,8); 
//Plot(4,"",IIf(UP2,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleNoLine|styleDots,0,200); 
//Plot(2,"",IIf(UP1,colorBlue,colorRed),styleOwnScal e|styleNoLabel|styleNoLine|styleDots,0,200); 
_SECTION_END();

You are using wrong afl for obv pane. This is the correct one.

_SECTION_BEGIN("OBV Hi Lo"); 
y = Param("Ribbon Y",5,0,500,5);

Ob = OBV();    Hi = HHV(Ob,15);    Lo = LLV(Ob,15); 

B1 = Cross(Ob,Ref(Hi,-1));    S1 = Cross(Ref(Lo,-1),Ob); 

B1 = ExRem(B1,S1);        S1 = ExRem(S1,B1); 

UP1 = Flip(B1,S1);        DN1 = Flip(S1,B1); 

e3 = EMA(Ob,3);  	e200 = EMA(Ob,200); 	e36 = EMA(Ob,36);
nd = Day()!=Ref(Day(),-1);	
lb = Day()!=Ref(Day(),1);
ob = OBV();	
zero = ValueWhen(lb,ob);

//Plot(10,"",IIf(UP1,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleThick,0,500,0,-5,8); 
PlotOHLC(y,Y+10,y,y,"",IIf(UP1,colorBlue,colorRed),styleOwnScale|styleNoLabel|styleCloud,0,500);
showVerticalObvlines15 = ParamToggle("Show vertical line for 15 ribbon change", "No|Yes", 0) ;
if (showVerticalObvlines15)
{
Plot(IIf(B1,1,0),"",colorBlue,styleOwnScale|styleNoLabel|styleHistogram|styleDashed,0,1);
Plot(IIf(S1,1,0),"",colorRed, styleOwnScale|styleNoLabel|styleHistogram|styleDashed,0,1); //vertical lines
}

 

[SevenD]

Hi guys. Most of you have not understood the relevance of OBV. Let me tell you what it is and what it is expected to achieve. In plain and simple terms OBV can be construed as the market bias indicator. My understanding is there cannot be a real increase in price in absence of volumes. This is the basis of my studies. To understand volume action better and in a more tangible way we can mark 3 points (in any time frame that you trade). These are the 1st line to be drawn as reference point in OBV charts is the end of the 1st bar on opening in whichever time frame you trade. (meaning 9:16 in 1min. bar, 9:18 in 3 min. bar and 9:20 in 5 min bars). The second horizontal line at 11:00 and the 3rd at 1:00 PM. These lines may be treated as zero lines. i.e to take long only signals when OBV values are above these reference lines and short only signals below it (with proper sl's). You may mark another line at 2:30 to achieve the same objective. Now these 3 lines would become your supports and resistance lines of OBV for the day. Pull up any chart and backtest and you would see amazing results. Price movement without volume support would only fall like a house of cards sooner rather than later. In fact such a scenario gives rise to divergence trade which has an excellent win/loss ratio and RR.

Varun ji,

Just want to clarify, when you say end of 1st bar on opening, are you referring to the close, the High or low of that 9.16 bar in 1m TF
and other subsequent three bars..

 

[varunkochhar]

Seven D ji there are no high and low of the OBV. What i meant was the level of OBV at 9:16,11:00, 1:00 and maybe 2:30. Sorry i could not get it across correctly.