Usefulness of On Balance Volume

Goodday everyone.

What are your opinion on this OBV indicator?

It seems to me that it just move up and down together with the price, does not seem to giving value. Am i missing something?

Cheers

It's for stocks and can barely have an application currencies. Used it with HF when was a newbie, testing everything that comes into hand . No luck with it.
Check indies for their history, a lot of them came from stock exchange system what has some other device than OTC markets. To make it work some adjustments should be carried out, particularly on volatility and what comes with it.

it's all I use,look for divergence or convergence. Think of lack of tick volume shows weakness or strength. Tie it in with areas of supply and demand can really help to show areas will price will reverse.

Posted 2 examples. before and after

At first, obv looked promising but imho it's subjective and doesn't have accuracy i want. Oscilator divergence gives the similiar signal many times. Gadi or Moderator's threads are good resources to learn obv.

where do I find these threads ?

http://www.forexfactory.com/showthread.php?t=83944
http://www.forexfactory.com/showthread.php?t=381696
And sorry for the typo: Moderator > Evaluator

Using OBV I can predict movement oF price.
https://www.investopedia.com/article...volume-obv.asp

I can call it a traditional indicator that can be used alone or combined with other indicators in a particular strategy. I've seen a lot of information on the internet about this and a lot of data on how it can be used in day-to-day work in the market. There is no need to rush and make hasty decisions, everything requires verification and analysis, and potentially anything can become the basis of your work - the main thing is that you figured out the mechanism itself and correctly interpreted what you see in the analysis. And it really works level by level - up and down, as you put it. So don't look for some hidden opportunities and use what is clear and transparent.

Objectively speaking, many indicators are similar to each other. Yes, they are aimed at different levels and to work with different groups of assets, but in general they are all based on certain mathematical strategies and sequences that make up the market. So yeah, you definitely get it right how it works and what
it can give you the moment. Of course, sometimes you can find some broader meanings of indicators when you can use them to determine the trend, etc. But these are additional details. And if you see that you are comfortable working with this and you see that it allows you to navigate the events taking place on the market - then you definitely need to continue such work.