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Neil Scott

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Neil Scott

Re: The Grabber post# 27308

Monday, 04/28/2008 6:02:00 AM

Monday, April 28, 2008 6:02:00 AM

Post# of 47156
Hi Grabber,

If I am going to use any TA Tools, which I do, I must admit, the one I find useful is the On Balance Volume, it a cumulative total of the down day volume subtracted from the up day volume.
It can give an indication that even though prices are still rising, the volume is tapering off and any large volumes on negative days ensure that the direction of the indicator shows which way the prices are expected to head.
I use a smoothed version of the OBV to allow the indicator to fall below so I can see when the trend is changing.

Regards


Neil
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