Can the OVI be used for intraday trading?
You can use the OVI’s end-of-day readings to enhance your intraday trading, but we don’t tend to focus on intraday trading in our learning materials.
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At some point in time, could the OVI go live so that an intra-day OVI would be possible?
The OVI is derived from, amongst other things, options volume, open interest and implied volatility. The OI component can only be updated at end-of-day, so unfortunately the OVI cannot be intra-day.
What is the OVI?
The OVI is Guy's proprietary trading indicator. It’s a unique tool that you won’t find anywhere else. The letters OVI actually stand for ‘Options Volatility Index’, and the technology itself relies on complex algorithms and billions of data ...
What does the OVI do?
Simply put, the OVI measures the flow of the big, smart money in the markets. It does this by monitoring the activity between buyers and sellers of options. You do not need to know anything about options trading to use the OVI. But by looking at ...
What is the WiseTraders OVI Short, Medium, and Long Term Market Timers?
The longer term timing indicator (OVIsi) was designed with an institutional portfolio in mind, and is based on prolonged bullish or bearish conditions. As such it is a slow-moving indicator which did not turn during the Pandemic downturn of Feb-March ...
Is the direction of the OVI important or just that it is either in positive or negative territory?
It's all about support/resistance and breakouts together with OVI, AND with Big Money Footprints (at least a couple). For guided discretionary trading, you don't read the OVI on its own, it is not a daily indicator. Look for persistence in its ...