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OBV

JJJJ
JJJJ ✭
in SharpCharts
On the daily chart, the OBV graph is quite different if I use candlesticks vrs heikin ashi. Sometimes the OBV goes in different directions. Can you explain?
Thanks

Comments

  • markd
    markd mod
    OBV is calculated based on the direction of the close.

    Candle sticks show the actual close. H-K calculates the close from the average of the four data points - open, high, low, close.

    The HK close can differ in direction from the actual close, so the OBV calculations will be different.

  • lmkwin
    lmkwin ✭✭
    It would be very nice if you could actually scan or alert on indicators based on Heikin Ashi candles. For that matter it would be great to be able scan or alert on indicators based on the Point and Figure charts also. You can put MA's and Bollinger Bands on the PnF charts.

    I use Heikin Ashi as a display on my time charts sometimes, it just messes with your head if you ran a scan and then you look at the results using your HA chart and the indicators aren't where the scan said they were.

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