![]() Series array that contains open prices of each bar of the current chart. Int count // number of elements to copy ArraySetAsSeries(Open,true) Series array that contains the lowest prices of each bar of the current chart. Int count // number of elements to copy ArraySetAsSeries(Low,true) Series array that contains the highest prices of each bar of the current chart. Int count // number of elements to copy ArraySetAsSeries(High,true) Number of digits after the decimal point for the current symbol prices. Series array that contains close prices for each bar of the current chart. Int count // number of elements to copy ArraySetAsSeries(Close,true) Ĭop圜lose(_Symbol,_Period, 0,count,Close) The latest known bid price of the current symbol. The latest known ask price for the current symbol. #define OP_SELLSTOP 5 //Pending order of SELL STOP type #define OP_BUYSTOP 4 //Pending order of BUY STOP type #define OP_SELLLIMIT 3 //Pending order of SELL LIMIT type #define OP_BUYLIMIT 2 //Pending order of BUY LIMIT type OBV(i-1) is the indicator value of the previous period OBV(i) is the indicator value of the current period If todays close is equal to yesterdays close then: OBV(i) = OBV(i-1) If todays close is less than yesterdays close then: OBV(i) = OBV(i-1)-VOLUME(i) If todays close is greater than yesterdays close then: OBV(i) = OBV(i-1)+VOLUME(i) Positions should be held until the trend changes. Likewise, investors should sell short when the OBV makes a downside breakout. Since OBV breakouts normally precede price breakouts, investors should buy long on On Balance Volume upside breakouts. When the OBV changes to a rising or falling trend, a "breakout" has occurred. Thus, if the security changes from a rising trend to a doubtful trend and remains doubtful for only two days before changing back to a rising trend, the On Balance Volume is considered to have always been in a rising trend. The second way the OBV trend can be broken is if the trend changes to a doubtful trend and remains doubtful for more than three days. The first occurs when the trend changes from a rising trend to a falling trend, or from a falling trend to a rising trend. There are two ways in which the On Balance Volume trend can be broken. Once a trend is established, it remains in force until it is broken. When the OBV is moving sideways and is not making successive highs and lows, it is in a doubtful trend. Likewise, the On Balance Volume is in a falling trend when each successive peak is lower than the previous peak and each successive trough is lower than the previous trough. The OBV is in a rising trend when each new peak is higher than the previous peak and each new trough is higher than the previous trough. Non-confirmations can occur at bull market tops (when the security rises without, or before, the OBV) or at bear market bottoms (when the security falls without, or before, the On Balance Volume Technical Indicator). If the securitys price movement precedes OBV movement, a "non-confirmation" has occurred. When the public then moves into the security, both the security and the On Balance Volume will surge ahead. The theory is that smart money can be seen flowing into the security by a rising OBV. The basic assumption, regarding On Balance Volume analysis, is that OBV changes precede price changes. When the security closes lower than the previous close, all of the days volume is considered down-volume. When the security closes higher than the previous close, all of the days volume is considered up-volume. The indicator, which Joseph Granville came up with, is pretty simple. On Balance Volume Technical Indicator (OBV) is a momentum technical indicator that relates volume to price change. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |