Hi all
i have been doing some research and stumbled across the importance of OBV and Volumes (standard in MT4).
I noticed they tend to be used in stocks more but have seen applications where it is being used in Forex.
I currently have a OBV with a 13EMA over the top, set up on a weekly chart. I do have a Volumes indicator on as well. With the Volumes that is only going to give me a score in tick activity and i am only looking at a decrease or increase from previous?
I am still trying to understanding the technical importance of how these work but i do see some correlations in price action alignment with these indicators.
Please excuse my chart work - just tying to paint a picture.
Any ideas or suggestions or examples of this kind of thing in play would be great. Or if anyone can suggest someone to look up also.
Thanks,