Discussion about Renko : (from Varun's thread)

[doss186]

doss ji
so i think u r not using RENKO here

No I'm not using Renko here. While Renko is good concept, OBV is better than renko as it protects from unnecessary pullbacks and retracements.

 

[vivek.civil17]

oh I m grinding the renko daily .
any trades you done today ji ??

 

[doss186]

Though OBV should be universal for all stocks and futures, they are not. Each stock or future requires different settings. I've set proper setting for some of the largecap futures and MARUTI, CEATLTD, CENTURYTEX, and few more obey this setting properly.

 

[doss186]

oh I m grinding the renko daily .
any trades you done today ji ??

Yeah Though I was buy in some of family matters, made 30 points shorting Maruti.

 

[vivek.civil17]

different settings in OBV . ? looks new

 

[doss186]

different settings in OBV . ? looks new

Now compare the classical OBV and my corrected OBV. The last short signal came at 1958. in classical OBV 1946.6 registers higher obv value than 1958, but my corrected obv value stays below 1958. Also notice
the long entry of classical OBV at 1948.05 and my corrected obv at 1937.

 

[vivek.civil17]

doss ji
is it possible to send charts for banknifty and axis bank ???

 

[vivek.civil17]

just for an idea . is the buy ans sell based on Bollinger band rejection ????

 

[doss186]

doss ji
is it possible to send charts for banknifty and axis bank ???

Here we go with intraday charts of BN and AxisBank.

 

[vivek.civil17]

Here we go with intraday charts of BN and AxisBank.

thank you