On Balance Volume wi Normalization (OSC)Hello everyone, I'm sorry that the previous open-source version was hidden due to the house rules, I've re-edited the description and re-posted it
(1) Indicator introduction
This indicator is a normalized OBV that never dulls and has a better divergence accuracy than RSI
This indicator is plotted on the Normalized OBV and can display the divergence locations and corresponding divergence intensity
The tolerance of N Klines at the top or bottom positions for price and indicator is supported, which is set by the "Tolerant Kline Number"
Support the display of divergence intensity, that is, the REG/HID value displayed on the label, which is less than 0. The smaller the intensity value, the more obvious divergence
Support the filtering of divergence intensity, which is set by "Cov Threshold". The divergence that REG/HID divergence intensity greater than this value will be ignored
In the label, REG indicates regular top/bottom divergence while HID indicates hidden top/bottom divergence
In the label, SRC(x-y) indicates a divergence occurred from the x-th kline to the y-th kline
In the label, OSC(x-y) indicates a divergence occurred from the indicator corresponding to the x-th kline to the y-th kline
(2) Parameter introduction
- Normalized On Balance Volume
MA Type: Type of moving average for calculating the normalized OBV, default is SMA
MA Period: Period of moving average of normalized OBV, which is SMA14 by default
NOBV Sigma: Upper and lower range of normalized OBV
- Normalized On Balance Volume Divergence
Pivot Lookback Right: Number of K-line bars recalling the pivot top/bottom point to the right
Pivot Lookback Left: Number of K-line bars recalling the pivot top/bottom point to the left
Max of Lookback Range: Maximum number of retracing K-line bars to find the pivot top/bottom point
Min of Lookback Range: Minimum number of retracing K-line bars to find the pivot top/bottom point
Tolerant Kline Number: Maximum tolerance in indexing top/bottom points of Klines and indicators
Cov Threshold: Divergence intensity, which is less than 0. The smaller the intensity value, the more obvious divergence
Plot Bullish: Whether to draw regular bullish divergence label
Plot Hidden Bullish: Whether to draw hidden bullish divergence label
Plot Bearish: Whether to draw regular bearish divergence label
Plot Hidden Bearish: Whether to draw hidden bearish divergence label
Happy trading and enjoy your life!
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各位朋友大家好,很抱歉之前的开源版本因为规则原因被隐藏,我已经重新编辑了说明并重新发布
(1) 指标说明
该指标是 OBV 的归一化版本,永不钝化,背离准确率高于 RSI
该指标绘制于 归一化OBV 上,并在对应位置显示背离点以及背离程度
支持顶底位置 N 根K线的容差,由 Tolerant Kline Number 参数设置
支持背离强度的显示,即标签上显示的 REG/HID 值,该值小于 0,且越小说明背离程度越大
支持背离强度的过滤,由 Cov Threshold 参数设置, REG/HID 值大于这个值的背离会被忽略
标签中,REG 表示常规顶/低背离,而 HID 表示隐藏顶/底背离
标签中,SRC(x-y) 表示从当前第 x 根 bar 开始到第 y 跟 bar 出现背离
标签中,OSC(x-y) 表示从当前第 x 根 bar 所对应的指标开始到第 y 跟 bar 所对应的指标出现背离
(2) 参数说明
- Normalized On Balance Volume
MA Type: 计算归一化 OBV 的移动平均的类型,默认为 SMA
MA Period: 计算归一化 OBV 的移动平均的周期,默认为 SMA14
NOBV Sigma: 归一化 OBV 的过滤区间
- Normalized On Balance Volume Divergence
Pivot Lookback Right: 枢纽顶/底点往右回顾的 K线 bar 数量
Pivot Lookback Left: 枢纽顶/底点往左回顾的 K线 bar 数量
Max of Lookback Range: 回寻找枢纽顶/底点的最大回溯 K线 bar 数量
Min of Lookback Range: 回寻找枢纽顶/底点的最小回溯 K线 bar 数量
Tolerant Kline Number: K线和指标的顶/底点索引的最大误差
Cov Threshold: 背离程度,该值小于 0,且越小说明背离程度越大
Plot Bullish: 是否绘制常规底背离提示
Plot Hidden Bullish: 是否绘制隐藏底背离提示
Plot Bearish: 是否绘制常规顶背离提示
Plot Hidden Bearish: 是否绘制隐藏顶背离提示
祝大家交易愉快
Denge İşlem Hacmi (OBV)
On Balance Volume wi Normalization (SRC)Hello everyone, I'm sorry that the previous open-source version was hidden due to the house rules, I've re-edited the description and re-posted it
(1) Indicator introduction
This indicator is a normalized OBV that never dulls and has a better divergence accuracy than RSI
This indicator is plotted on the klines and can display the divergence locations and corresponding divergence intensity
The tolerance of N Klines at the top or bottom positions for price and indicator is supported, which is set by the "Tolerant Kline Number"
Support the display of divergence intensity, that is, the REG/HID value displayed on the label, which is less than 0. The smaller the intensity value, the more obvious divergence
Support the filtering of divergence intensity, which is set by "Cov Threshold". The divergence that REG/HID divergence intensity greater than this value will be ignored
In the label, REG indicates regular top/bottom divergence while HID indicates hidden top/bottom divergence
In the label, SRC(x-y) indicates a divergence occurred from the x-th kline to the y-th kline
In the label, OSC(x-y) indicates a divergence occurred from the indicator corresponding to the x-th kline to the y-th kline
(2) Parameter introduction
- Normalized On Balance Volume
MA Type: Type of moving average for calculating the normalized OBV, default is SMA
MA Period: Period of moving average of normalized OBV, which is SMA14 by default
NOBV Sigma: Upper and lower range of normalized OBV, but the function is reserved
- Normalized On Balance Volume Divergence
Pivot Lookback Right: Number of K-line bars recalling the pivot top/bottom point to the right
Pivot Lookback Left: Number of K-line bars recalling the pivot top/bottom point to the left
Max of Lookback Range: Maximum number of retracing K-line bars to find the pivot top/bottom point
Min of Lookback Range: Minimum number of retracing K-line bars to find the pivot top/bottom point
Tolerant Kline Number: Maximum tolerance in indexing top/bottom points of Klines and indicators
Cov Threshold: Divergence intensity, which is less than 0. The smaller the intensity value, the more obvious divergence
Plot Bullish: Whether to draw regular bullish divergence label
Plot Hidden Bullish: Whether to draw hidden bullish divergence label
Plot Bearish: Whether to draw regular bearish divergence label
Plot Hidden Bearish: Whether to draw hidden bearish divergence label
Happy trading and enjoy your life!
————————————————————————————————————————
各位朋友大家好,很抱歉之前的开源版本因为规则原因被隐藏,我已经重新编辑了说明并重新发布
(1) 指标说明
该指标是 OBV 的归一化版本,永不钝化,背离准确率高于 RSI
该指标绘制于 K线 上,并在对应位置显示背离点以及背离程度
支持顶底位置 N 根K线的容差,由 Tolerant Kline Number 参数设置
支持背离强度的显示,即标签上显示的 REG/HID 值,该值小于 0,且越小说明背离程度越大
支持背离强度的过滤,由 Cov Threshold 参数设置, REG/HID 值大于这个值的背离会被忽略
标签中,REG 表示常规顶/低背离,而 HID 表示隐藏顶/底背离
标签中,SRC(x-y) 表示从当前第 x 根 bar 开始到第 y 跟 bar 出现背离
标签中,OSC(x-y) 表示从当前第 x 根 bar 所对应的指标开始到第 y 跟 bar 所对应的指标出现背离
(2) 参数说明
- Normalized On Balance Volume
MA Type: 计算归一化 OBV 的移动平均的类型,默认为 SMA
MA Period: 计算归一化 OBV 的移动平均的周期,默认为 SMA14
NOBV Sigma: 归一化 OBV 的过滤区间,其功能暂时保留
- Normalized On Balance Volume Divergence
Pivot Lookback Right: 枢纽顶/底点往右回顾的 K线 bar 数量
Pivot Lookback Left: 枢纽顶/底点往左回顾的 K线 bar 数量
Max of Lookback Range: 回寻找枢纽顶/底点的最大回溯 K线 bar 数量
Min of Lookback Range: 回寻找枢纽顶/底点的最小回溯 K线 bar 数量
Tolerant Kline Number: K线和指标的顶/底点索引的最大误差
Cov Threshold: 背离程度,该值小于 0,且越小说明背离程度越大
Plot Bullish: 是否绘制常规底背离提示
Plot Hidden Bullish: 是否绘制隐藏底背离提示
Plot Bearish: 是否绘制常规顶背离提示
Plot Hidden Bearish: 是否绘制隐藏顶背离提示
祝大家交易愉快
OBV Oscillator [LazyBear]- with some MAsThis indicator in modified OBV written by @LazyBear
I just added the 2 different Bollinger Bands and 2 different moving averages to the OBV version of LazyBear.
OBV line green -> OBV above zero
OBV line red -> OBV under zero
green background line -> OBV crossover 1st Moving Average
red background line -> OBV crossunder 1st Moving Average
blue '◆' -> OBV crossover 2nd Moving Average
yellow '◆' -> OBV crosunder 2nd Moving Average
blue '+' -> 1st Moving Average crossUNDER 2nd Moving Average
red '+' -> 1st Moving Average crossOVER 2nd Moving Average
OnBalanceVolume by DGTComparing relative action between price bars and On-Balance Volume (OBV) generates more actionable signals, and plotting OBV on top of price chart alows to visually emphasis the relation between the price bars and OBV.
The On Balance Volume indicator (OBV) is a good metric for measuring buying and selling pressure. Many people believe that buying and selling pressure precede changes in price, making this indicator valuable. The actual individual quantitative value of OBV is not relevant. Instead, traders and analysts look to the nature of OBV movements over time; the slope of the OBV line carries all of the weight of analysis.
* Trend Identification - On Balance Volume (OBV) is useful for identifying or confirming overall market trends, when both price and OBV are moving in the same direction the underlying trend is likely to continue.
* Devrgence - divergence occurs when price movement is not confirmed by the indicator. In many cases, these divergences can indicate a potential reversal
* During a trading range, if the OBV is rising, accumulation may be taking place—a warning of an upward breakout, and coversly if the OBV is falling, distribution may be taking place—a warning of a downward breakout.
Note of caution in using the On Balance Volume
- It is a leading indicator, meaning that it may produce predictions, but there is little it can say about what has actually happened in terms of the signals it produces. Because of this, it is prone to produce false signals. It can therefore be balanced by lagging indicators. Add a moving average line to the OBV to look for OBV line breakouts; you can confirm a breakout in the price if the OBV indicator makes a concurrent breakout
- A large spike in volume on a single day can throw off the indicator for quite a while. For instance, a surprise earnings announcement, being added or removed from an index, or massive institutional block trades can cause the indicator to spike or plummet, but the spike in volume may not be indicative of a trend
This study additionally presents
- Volume Histogram with a Volume Moving Average
- Volume Weighted Colored Bars
Other alternatives where OBV is used as source of creating indicators : RelativeStrength of VolumeIndicators , Neglected-Volume , StochX Indicator of Indicators , etc
As with most indicators however, it is best to use OBV with additional technical analysis tools
Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
MR_Volume Bull/Bears pathThis script is aimed at helping to achieve the study taught by Brian Beamish in Level 1, chapter 'Volume analysis" at www.therationalinvestor.com
Just move it to your existing pane with OBV13 and Volume indicators. You can turn off Buyers/Sellers and other indicators in the pane for a better analysis.
#PMA4TW!
MR_Volume Bulls/Bears pathsThis script pretends to helps in the study taught by Brian Beamish in Level 1, chapter 'Volume analysis"
Just add it to your existing pane with OBV13 and Volume indicators. You can turn off Buyers/Sellers and other indicators in the pane for a better analysis.
#PMA4TW!
BankNifty - OBVThis script tries to draw OBV for BankNifty using Futures Volume along with Average OBV. For Nifty50 just change the Futures Volume symbol in settings. Look at devations in Price vs OBV or Average OBV breakout.
NSE:NIFTY
NSE:BANKNIFTY
Intrabar OBV/PVTI got this idea from @fikira's script Intrabar-Price-Volume-Change-experimental
The indicator calculates OBV and PVT based on ticks. Since, the indicator relies on live ticks, it only starts execution after it is put on the charts. The script can be useful in analysing intraday buy and sell pressure. Details are color coded based on the values.
Data is presented in simple tabular format.
Formula for OBV and PVT can be found here:
www.investopedia.com
www.investopedia.com
Goethe A - Multiple Leading Indicator PackageGoethe A is an Indicator Package that contains multiple leading and lagging indicators.
The background is that shows the local trend is calculated by either two Moving Averages or by a Kumo Cloud. By default the Kumo Cloud calculation is used.
What are those circles?
-These are OBV (or VPT, can be set in the options) Divergences. Red for Regular-Bearish. Orange for Hidden-Bearish. Green for Regular-Bullish. Aqua for Hidden-Bullish.
What this middle line?
-The middle line is calculated by a smoothed Heikin-Ashi indicator. I can be used as a dynamic zone of support and resistance. Many times this indicator is used as entry signal giver in trend following strategies.
What are those background lines?
-The background contains a simple Daily Pivots indicator. This indicator can be read as zones of Support and Resistance that updated based on the used timeframe.
What is this smaller thin grey line?
-This is a very simple Stoploss indicator based on Donchian Channels. The trade direction is based and calculated by the local trend (background color)
What are those small orange or aqua triangles?
- These are Pivots . They show when the OBV or wolfpack oscillators (or a double confirmation of both) might reverse, this is important to know because many times the price action follows this move.
What are those purple triangles?
- These are Pivots . They show when the PVT oscillator might reverse, this is important to know because many times the price action follows this move.
What are those big orange or aqua triangles?
- These are TSI (true strength indicator) entry signals . They are calculated by the TSI entry signal, the TSI oscillator treshold and in conjunction with the overall local trend (background color).
What are those white squares?
- These are Overbought or Oversold regions of the build-in RSI bands indicator. Every time the price crosses one of the RSI bands those squares are printed. Most of the time this happens after a move and indicates that this strong move has come to an end.
Most settings of the indicator package can be modified to your liking and based on your chosen strategy might have to be modified. Please keep in mind that this indicator is a tool and not a strategy, do not blindly trade signals, do your own research first! Use this indicator in conjunction with other indicators to get multiple confirmations.
OBV+OBV with an extra twist.
Add up to 4 moving averages and choose from simple, exponential, smoothed, etc.
Choose to display a trend fill. Fill will be green when above the MA4 or red when below it. If the difference between the MA1 and MA4 is growing, the trend fill will be a more solid color indicating a strengthening trend. If the gap is lessening, it will gradually get more transparent indicating a weakening trend.
Finally, options to display bullish and bearish regular and hidden divergences are included.
Anchored OBV RSI: "V-RSI" About the Indicator:
V-RSI uses values from the traditional "Relative Strength Index(RSI)" oscillator and the "On Balance Volume(OBV)" indicator and anchors them into an oscillator format. In doing so, we are given a more concrete overview of volume/sentiment data relative to the RSI for analysis of trend strength and decision making.
EXTRAS: BTC MODE => for BTC only.
In BTC MODE, the indicator uses BTC volume data from the following 5 major exchanges: BINANCE, COINBASE, FTX, BITMEX, BITFINEX.
The sum of this data is taken to depict anchored OBV values. This allows for a more accurate representation of Global Volume.
How to use it
The indicator can be used like the normal RSI with the OBV (area in the middle) showing volume sentiment.
<50 is seen as bearish
>50 is seen as bullish
Using this data, it becomes easier to identify unsustainable trends, reversals, divergences
An example of an unsustainable trend and reversal would be if RSI values are overbought ( RSI > 70) yet OBV oscillator remains below 50.
== chances of unsustainable trend reversal are more likely.
For more questions, send me a message here on Tradingview.
Happy trading,
MM :)
On Balance Volume with candlesWhen it comes with On balance volume we have only line Indicator
It's difficult to identify what happening
So this indicator will help to identify what happening in On Balance Volume with Candle stick pattern
You can add SMA as well as EMA in code accourding to your strategy
Thank you
KoadzOscillatorOscillator based on PVT and OBV.
Important levels to buy :
< 30, 40 for OBV
< 30 for PVT
Anchored OBV SpaceManBTC Anchored OBV SpaceManBTC
The On Balance Volume indicator (OBV) is used in technical analysis to measure buying and selling pressure.
On Balance volume is primarily used to confirm or identify overall price trends or to anticipate price movements after divergences.
Anchored On Balance Volume unlike traditional OBV resets on your specified sessions: D, W, M, 3M, 4M, 6M, 1Y.
The actionable data is more useful HTF to see a potential long term trend change relative to the session reset chosen.
User can choose to disable highlightable session reset.
Recommended settings:
Daily tf with 3Month session pretty useful for the run so far. But please experiment away and share your results!
ToDo:
Non Reset Functionality,
Perhaps more timeframes
Position size FX and CryptoThis indicator I am using to calculate the position size to order for Forex and Crypto Future
Stochastic Spread AnalyzerA comparative version of the previously published Stochastic Structure Analyzer. It incorporates the 3-TF stochastics against both price and OBV values of the spread.
+ Breadth & Volumenote* If you've used my "+ Rate of Change Indicator", I am updating that without the OBV, which has been moved here. Just an FYI.
This "indicator" is basically a variety of indicators that measure volume, or accumulation/distribution. There's a bit of a story about how this came about but
it's not that interesting, so I'll spare you.
Indicators from which you may choose here are On Balance Volume (OBV), Money Flow Index (MFI), Chaikin Money Flow (CMF), Chaikin Oscillator, and Positive & Negative Net Volume.
I'll give a brief overview of these below, and if you want to educate yourself further on them you may. There are many web resources for that.
Most people are probably familiar with OBV. It's one of the more commonly used volume indicators, especially in the crypto crowd (at least amongst those traders I follow). It's basically a cumulative (doesn't oscillate around a midpoint) momentum indicator that measures volume of the current period versus volume of the previous period and adds it if price closed higher, but subtracts it if price closes lower. It's another way of using volume to confirm trend.
The MFI is a momentum indicator that measures the flow of money into and out of an asset over some period of time (user input). It's calculated using the RSI, so it can be used similarly to RSI (divergences, overbought, oversold, etc.), but of course unlike the RSI it's calculated primarily using volume and comparing the most recent candle close to the previous one (similar to OBV).
CMF is a volume-weighted average of accumulation and distribution over a some period of time (typically 21). It's a way of measuring accumulation versus
distribution in an asset, and oscillates around a zero line. You would use it similarly to any other oscillator, in that you can look for divergences, and general positive or negative momentum.
Chaikin Oscillator is basically a MACD (without signal line) of the accumulation and distribution index (or line--which is somehow different than simply accumulation and distribution). I haven't looked into these differences deeply, but if you look below at the calculations, and substituted 'ad' for 'accdist' you get very different readings. I actually did that, and what it looks like it would do is turn the actual Oscillator into a MACD signal line. So, by substituting 'ad' for 'accdist' (or the accumulation/distribution index) you produce a signal line of the Chaikin Oscillator.
Anyway, all that confusion out of the way, as I said, it's a MACD on the accumulation and distribution index, therefore it is another zero line oscillator, and similarly to CMF, it's a way of measuring price movements in the chart versus a/d. The zero line isn't just any old zero line, however, it is actually the accumulation distribution line. I've made an OBV version of this by substituting the OBV for AD, so if you prefer OBV maybe you will like that.
Pos. & Neg Net Volume is actually an indicator I had seen made by RafaelZioni. It basically takes net volume, calculates a cumulative of that, then subtracts a moving average of some period from the cumulative net volume in order to create a volume oscillator. Use it like the other oscillators!
Added Donchian Channels, moving averages, Bollinger Bands, colored everything, and alerts.
Enjoy!
Below I will post images with the different indicators, everything on default settings (except for lookback period, which I have adjusted to my personal preferences).
Above is an image with the MFI being compared to the RSI since they are very similar (MFI being basically a volume derivative of the RSI).
Chaikin Money Flow set to lookback of 13. You could probably extend that a bit if you wanted to smooth the line more.
Chaikin Oscillator and Chaikin Oscillator of OBV, with a zoomed in look below, to see the differences more clearly.
CO and COBV closer look.
Positive & Negative Net Volume.
On Balance Volume EMA TrendI have just taken the On Balance Volume and added an EMA with a little color to visualize the current trend.
OBV+ Oscillator [upslidedown]This is the classic OBV (On-Balance Volume) formula modified to evaluate OBV state based on a moving average. OBV is a momentum indicator that uses volume flow to predict changes in asset price. While I am not an expert on OBV, my thesis for the logic conditions I have implemented follow fairly standard confirmation/invalidation logic used in many other indicators. I use the below icons across many of my scripts to evaluate bar state and to help confirm current conditions in a trade.
Key:
🟦 = safe bullish conditions
▩ (transparent blue) = bullish warning (decreasing conditions)
🔹 = reversal condition (early indication of bullish behavior or simply chop)
🟥 = safe bearish conditions
▩ (transparent red) = bearish warning (decreasing conditions)
♦️ = reversal condition (early indication of bearish behavior or simply chop)
If you have questions about how to use this, want to offer ❤️, or have ideas for improvement feel free to PM me.
CDC DivergencesA handy little indicator to help identify different kinds of convergences/divergences
The indicator compares price movements with the momentum and volume movements, Hidden divergences are left out, at least in the first version, because I wanted this indicator to be as simple as possible.
The divergences are shown with labels, user can change the momentum/volume indicator used to identify divergences in the settings.
M.Right_ OBV / Volume Smoothed RSI & 3 RSI EMAsFirst, I'd like to thank all those coders who've inspired me to learn and code my own indicator. This is the result of tireless hours of work learning to code and tweaking until everything fits exactly what I was looking for. After using it for a while and seeing the benefits personally, I figured now might be a good time to share with everyone while we are in such great market volatility , maybe I can save you some losses.
Basically, my indicator is meant to use RSI, Volume, and Volatility to show where oversold and overbought levels are, but also good times to buy and alerts.
I've tried to make my indicators as customizable as possible with all the bells and whistles you'd expect, but to have Proprietary calculations under the hood that you probably won't find anywhere else.
This indicator is a great pair with my Top and Bottom Finder.
Features:
Works on all timeframes.
Alerts.
Background highlights.
Buy/Sell signals and arrows (with the option to remove them).
Let me know if you have any questions, and enjoy.
Cheers,
Mike
OBV Bottoms and Tops by Richie RichHello and Welcome to Trading With Richie Rich's Indicator Suite!
This Indicator is known as OBV Bottoms and Tops Finder because it has been consistent with the bottoms and tops to the extreme levels possible with the help of On Balance Volume (OBV) which can be used for scalping as well Investing.
How to Use OBV Bottoms and Tops Finder Indicator?
General Idea - Everyone in trading is familiar with On Balance Volume (OBV) and it is mainly used to calculate Divergences and catch breakouts and breakdowns. But is it possible to catch the bottom or top price of an asset with the help of On Balance Volume? Typically with the normal OBV it is not but with this one.... Yes, it is Now! We'll learn it soon enough.
- After getting access to the indicator you must apply it to your chart and Favorite it so that it becomes handy all the time.
- There are 2 line namely,
1. The Overbought Line (color coded Red) - which helps you to know when the asset has been highly overbought in short term and is due for a correction short term.
2. The Oversold Line (color coded Green) - this helps you know when the price of asset has been really highly oversold and is highly due for a bounce to its main interest
levels.
- Long / Buy Setup - Wait for the main oscillator to fall back below the oversold level ,i.e, -1 and wait for the candle close to always verify it. Once it is in the region of below -1 you should either start to DCA (Dollar Cost Averaging) in a Trade or if you believe the asset is due for a more dump in coming minutes, wait for the indicator to bottom out in the -1.2 to -1.5 region, which will be your ultimate bottom to long. Once you have entered the trade which will basically (might be) the bottom for short term - mid term you should then start focusing on your Risk Reward Ratio. For Scalpers, in my opinion it is enough to target 1-2% on each trade and then flip and rotate.
If you are with a large sized portfolio and are basically an investor rather than a Trader. You should switch the chart to 4hour chart and apply the indicator and just basically wait for the Trade God and the Extreme Top and Bottom Finder to completely bottom out. Once they both are at there lowest you might have entered the Bottom once again at start focusing on your Risk Reward Ratio. After Bottoming out on a 4hour chart, i have backtested to find out that the asset price usually rises to 10-20% a minimum that will be your Take Profits Zone!
- Short / Sell Setup - Wait for the main oscillator to rise above below the overbought level ,i.e, +1 and wait for the candle close to always verify it. Once it is in the region of above +1 you should either start to DCA (Dollar Cost Averaging) in a Trade or if you believe the asset is due for a more pump in coming minutes, wait for the indicator to Top out in the +1.2 to +1.5 region, which will be your ultimate Top to short. Once you have entered the trade which will basically (might be) the Top for short term - mid term should then start focusing on your Risk Reward Ratio. For Scalpers, in my opinion it is enough to target 1-2% on each trade and then flip and rotate.
If you are with a large sized portfolio switch to low leverage mode and switch the chart to 4hour chart and apply the indicator and just basically wait for the Trade God and the Extreme Top and Bottom Finder to completely Top out or show Bearish Divergence after topping out once. Once they both are at there highest or have started to show bearish divergences you might have entered the Top once again at start focusing on your Risk Reward Ratio. After Topping out on a 4hour chart, i have backtested to find out that the asset price usually fall up to 10-20% a minimum that will be your Take Profits Zone!
This really comes in handy when paired with my Trade God/Scalp God and the Extreme Top and Bottom Finder indicator Setup!
All the above examples are backtested and can be checked via applying the indicator on the chart!
OBV RSI TunTuneCombination of OBV and RSI.
Use as RSI like normal way. You can add another indicator as Bollinger Band for more power .