In Our OBV trading Strategy we use the indicator to find the weak hand of trend pull back
Now you can free download Algo trading OBV indicator here
Required Indicators
On Balance Volume indicator
Weighted Moving Average
How to Apply to chart
First Add the Moving average to main chart
Period -246 ,
MA method - Linear Weighted
Add On Balance Volume indicator as separate window and input should be apply to close
drag Moving average indicator to OBV indicator window in input settings set the input as below
Period : 246
MA method : Linear Weighted
Apply to : Previous indicator's Data
select any color you like
Time Frame : 15 minute
Long Entry Rules
246-period WMA of price is sloping up
246-period WMA of OBV is Sloping up
slope of price WMA turns negative but slope of OBV WMA stays positive
Go long When Price WMA turn positive again
Short Entry Rules
246-period WMA of price is sloping down
246-period WMA of OBV is Sloping down
slope of price WMA turns postive but slope of OBV WMA stays negative
Go short when Price WMA turn negative again
Exit Stratergy
Exit from the trade you can use Fixed SL &TP with fixed pip amount risk reword ratio should be minimum 1:1 or higher if you can use 1:5 or above you will have Good profit ratio
other exit method is you can use recent high or low for the SL and place when trade getting profit over 10 pip set SL to break even and you can trail the trade with every 20 pip or close the trade when obv cross the WMA
Getting Help of our Currency strength and correlation indicator for maximize wining trade and avoid pairs has no power
When you use algo csc Indicator you don't need to monitor all pairs.indicator will tell you which pairs to select and trade
To get the AlgoCSC Indicator click here