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yorker@xxxxxxx wrote:
>
> Don,
>
> I have another question and some comments.
>
> Question: You said this was not obv because this does not have to do with
> price. How do you determine advancing and declining volume if you don't
> use price in some way?
I was refering to the classic defintion of OBV as defined by Granville,
Ie: if Close today is greater than Close yesterday than a plus value is
given to
the TOTAL VOLUME traded and added to the previous day's value. If Close
is less than yesterday's close than total volume is given a negative and
then added to yesterday's obv.
Granville's trick is very rough.
You are right that price change truely defines whether or not its
Advancing volume or Declining volume.
> My comment is that, I believe this is an intraday form of obv, IMHO, and a
> very interesting use for the technique. I believe that many software
> packages provide this indicator. Is this true do you know?
It wasn't in Supercharts. Or anywhere else that I looked. It took me
awhile to figure out how to program SC to do the trick.
Thanks for your perspective on the charts..
I think that it is telling us that the selling might just be over... :)
No guarenteessss
Don
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