anyone using volume indiactor for intraday trading

[hermit_trader]

I find the OBV or other volume indicators work quite well for long-term position trading. But cannot make them work for intra-day trading.

Any idea?

 

[hoodooman]

Volume by price, detailed.

 

[syswizard]

Quote from hermit_trader:

I find the OBV or other volume indicators work quite well for long-term position trading. But cannot make them work for intra-day trading.

Any idea?

The reason for this is likely because high volume accompanies major moves. So you may want to look at OBV "peaks" as a place to sell and "troughs" as a place to buy. In other words, fade the volume ramp-up.

 

[jack hershey]

Quote from syswizard:

The reason for this is likely because high volume accompanies major moves. So you may want to look at OBV "peaks" as a place to sell and "troughs" as a place to buy. In other words, fade the volume ramp-up.

This is a major error.

 

[austinp]

By the time volume shows up on the tape, best entry signals have already confirmed prior to.

Volume is a lagging indicator for intraday trading. Confirms the middle and latter entry signals in directional moves... after the early signals have long since passed.

 

[Trader273]

Ever try using volume based bars? I switched from time bars to volume and will never go back to the time bars. Just and idea.

 

[jack hershey]

Quote from austinp:

By the time volume shows up on the tape, best entry signals have already confirmed prior to.

Volume is a lagging indicator for intraday trading. Confirms the middle and latter entry signals in directional moves... after the early signals have long since passed.

How many trades a day do you do? What multiple of the H-L is your daily net?

TIA.

 

[murray t turtle]

Quote from hermit_trader:

I find the OBV or other volume indicators work quite well for long-term position trading. But cannot make them work for intra-day trading.

Any idea?

==============
H trader;
Yes, but not obv & probably wouldnt call a secondary indicator like vol''working quite well'' intraday.

.Plenty of opportunities which dont have our favorite
stairstepping volume.
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Intraday=harder;
no big gaps usually , less time for trend to bail you out, more comissions.....

Volume clearly secondary & since your question is limited to day trading, price/price indicators maybe more fruitful

 

[syswizard]

Quote from jack hershey:

This is a major error.

Sorry to disagree Jack...from my observations of eRL,
many, many (but not all !) fast moves up or down
get short-circuited when there is a volume spike.
Granted, I'd have to run an analysis of this via computer,
but even observing the intraday charts, I've seen it many times.
And this guy has had a lot of screen time as well:
Quote from Alan Farley:
" big volume kills trends (blow-offs take buyers and sellers out of the market)"

 

[taowave]

Quote from Trader273:

Ever try using volume based bars? I switched from time bars to volume and will never go back to the time bars. Just and idea.

On volume based bars,does each stock have its own "volume filter",or is it based on some % of an average??