1. For those of you who have asked about my live sessions each week on the Simpler Options site, here is the link for the current $7 - 30 day trial. I have spent the last two years in the live trading room and personally believe it is the best trading room around. I speak each Monday and Friday from 11:00-12:00 CST and Wednesday from 1:00-1:30 CST. Hope to see you there. -Eric
  2. Purchase a Lifetime Pro Membership and get full access to the forum and resource downloads. UPGRADE NOW

thinkorswim PointsPerShare 2016-06-29

OnBalanceVolume blended with price movement to get a view of money flow.

  1. TedNoel
    OnBalanceVolume does not adjust for the size of a price move. PointsPerShare takes the size and direction of a a move (default on the pivot) and gets the sign like OBV but the magnitude is normalized to the ATR. Thus, for example, a doji with large volume but 1 cent up will give basically no additive amount while OBV would show a large amount up. PointsPerShare has been showing very good divergence indications for swing entries, and K-D crossovers look good for breakouts.

    The SPY shows one example, where there were lower lows in price and higher lows in PointsPerShare


    This divergence marked a reversal in the SPX (PPS doesn't work on the index, since it has no volume component).

Recent Reviews

  1. TraderRenn
    Version: 2016-06-29
    Great update for OBV