Little more backtest on this (Manual) and I am AMAZED !!
To say the least, This is really nice.
I will discuss this after some more practice. It is not exactly what Varun had shared though. I am just taking his OVB usage concept and hybridizing the same with my tried and tested systems as a redundant filter.
I am using this with STI (yeah my same old boring stuff) and 34EMA overlay on the OBV. What I am trying to achieve on a 15mins TF, trying to call out the fake (Whipsaws) STI crossovers and sticking to the one on which OBV is showing a much greater chance of successful crossover and it is just looking too good to be true. As I told, let me give it to my test lab and some practice, then I will share this.
BTW, it works better with high beta instruments - like crude, BNF, some high beta scrips like axis etc.
I don't have TEMA, so I am using WWMEA on kite.