It is a cumulative indicator, meaning that on days when the price increases, volume is added to the cumulative OBV total. If the price decreases, that day’s volume is subtracted from the OBV total. The On Balance Volume Indicator is regarded by the industry as one of the most popular momentum indicators, and is best used to detect new trade opportunities in the following ways:
- Trend line strategy
- Trend reversal – divergence
- Forex trend strategy
HOW TO USE:-
FOR SELL ENTRY:-
- 1. First made Redline on the top.
- 2. Second made Red candle on the top.
- 3. Indicator Generate Red color after instant take sell entry Only 2 Confirmation enough.
- 4. SL will be 20 pips(SL set up over the Red color Indicator) and TP will be 40-50 Pips
FOR BUY ENTRY:-
- 1. First made a blue line on the bottom.
- 2. Second made Green candle on the bottom.
- 3. Indicator Generate Green color after instant take Buy entry Only 2 Confirmation enough.
- 4. SL will be 20 pips(SL set up below the Green color Indicator) and TP will be 40-50 Pips