My PBOF chart is an attempt to identify, and be decisive, after a potential bottom has formed through with a good sequential 9 or 13 and triple exhaustion signal. Oscillator divergence and volume are clues to a potential bottom. Regardless they are are hard to bu into real time. But if it appears a bottom has possibly been established then I want to buy the next pullback. To identify that, I am hoping my PBOF chart will be useful. It would shows some indications of a bottom, followed by oversold conditions on fast CCI and RSI oscillators. The price ought to be near the bottom of the bollinger band as well. Triple exhaustion and sequential aren't of use generally once the bottom is in. So now we reduce our focus to these oscillators and the bollinger bands (which become a useful short term volatility indicator at this juncture).
A corn trade inspired me to do design the PBOF chart. Here is our two corn charts (ZS and CORN) that I published as in idea in Tradingview so that they are fixed in time and not updating. If they update then the chart will lose meaning. So it is static. You just have to pull up a later chart and see how it worked out but this conveys the idea.
A corn trade inspired me to do design the PBOF chart. Here is our two corn charts (ZS and CORN) that I published as in idea in Tradingview so that they are fixed in time and not updating. If they update then the chart will lose meaning. So it is static. You just have to pull up a later chart and see how it worked out but this conveys the idea.