Use the OVI Dashboard to get an instant bird’s eye view of current market trends and how many of our tradable patterns are active on any given day.
At the top of the OVI Dashboard, you’ll see a series of circles known as the OVIsi. It is then followed by a series of pie charts that are separated into 6 main sections.
Access to the OVI Dashboard is reserved only for our OVI Markets Daily members.
The OVIsi gives you a long-term outlook of the overall market. The OVIsi can change from green to yellow to red similar to that of a traffic light.
A change in the OVIsi is an indication of a shift in long-term market sentiment. For example, a change from green to red would indicate that long-term market sentiment has shifted from bullish to bearish.
The pie charts in the OVI Dashboard are categorised according to trends and separated into continuations, key levels, momentum, post-earnings, pre-earnings and reversals.
Continuation patterns appear in the form of sideways price movement. They typically signify a period of temporary consolidation before the
| Term | Definition |
| Trend | The general direction of a market or stock price. Trends are made up of peaks and troughs in price action. They can be upwards (bullish), downwards (bearish) or sideways (flat/neutral). A short-term uptrend is usually formed by at least two higher highs (peaks) and two higher lows (troughs). On the flip side, a short-term downtrend is usually formed by at least two lower highs (peaks) and two lower lows (troughs). |
| Consolidations | A consolidation pattern appears as a temporary sideways price movement on the stock chart. Consolidations are a phase when a stock or an index trades within a range. They generally indicate periods of indecision and ends when the price breaks above or below the sideways range. |
| Flags | A chart pattern that resembles a cloth on a flagpole. They present clear entry and exit levels to trade on the breakout of the prevailing trend. This allows you to define your risk from the outset and ensure that you are always in control of the trade. |
| OVIma | A persistently positive average (5-day positive OVI) would indicate short-term bullish sentiment in the stock. A persistently negative average (5-day negative OVI) would indicate short-term bearish sentiment in the stock. |
Key levels form important support and resistance levels. They can be used to identify potential trading opportunities or to manage an existing trade.
The most important key levels are the 200, 50 and 20 day moving averages. Stocks are generally considered to be overbought or oversold when they are
| Term | Definition |
| 200 DMA | An indicator of a stock’s long-term trend. It is commonly used to identify long-term support or resistance areas. A breach above or below the 200 dma key level typically signifies a shift in long-term sentiment. This may produce explosive price moves on a breakout which can lead to significant windfall profits. |
| 50 DMA | An indicator of a stock’s medium-term trend. It is commonly used to identify medium-term support or resistance areas. In a strong bullish market, the 50 dma tends to act as a strong support level for stocks on a temporary pullback. A breach below this key level would indicate a shift from bullish to bearish market conditions. |
| 20 DMA | An indicator of a stock’s short-term trend. It is commonly used to identify short-term support or resistance areas. Short-term support and resistance levels are generally weaker compared to the 50 and 200 DMA. Therefore, traders will usually pay more attention to the 50 and 200 DMA. |
| Term | Definition |
| Momentum Initiator | The momentum initiator bar shows if a daily bar is displaying momentum characteristics. If a bullish momentum initiator bar occurs within the context of a bullish consolidation and OVI scenario, this would be an indication of potential bullish follow-through. If a bearish momentum initiator bar occurs within the context of a bearish consolidation and OVI scenario, this would be an indication of potential bearish follow-through. |
This section displays stocks that have reported earnings in the last 20 days.
| Term | Definition |
| Gap | The opening bar of a price chart opens and stays beyond (lower or higher) than the spread of the previous bar. Gaps can be lower or higher. |
| OVI | An indicator that measures options transaction activity by way of Implied Volatility, Open Interest and Options Volume.The OVI ranges from +1 to -1. A persistently positive reading typically correlates with a bullish sentiment, and a persistently negative reading typically correlates with a bearish sentiment. The OVI is best used in conjunction with a chart pattern such as a bull flag, bear flag, or an approach towards support or resistance. |
This section displays stocks that are about to report earnings in the next 10 days. Due to the unpredictable nature of earnings, pre-earnings
| Term | Definition |
| Persistent OVIma | An indicator of big money activity in stocks. We typically trade the breakouts from flags in the direction of the dominant trend and OVI. A persistently positive average (5-day positive OVI) would indicate bullish sentiment in the stock prior to its earnings report. A persistently negative average (5-day negative OVI) would indicate short-term bearish sentiment in the stock prior to its earnings report. There is a possibility that the stock may gap against its dominant trend and OVI upon reporting earnings. Therefore, you can choose to close out your positions before the earnings announcement. |
| Jump | Stocks that have previously gaped in the direction of its OVI reading upon reporting earnings. This gives you an overview of the stock’s historical pre-earnings price behaviour. |
| 4+ Stars | A high OVI rating indicates high correlation between the stock price and its OVI reading. This increases the odds of the stock moving in the direction of its dominant trend and OVI on a breakout |
Reversal patterns indicate a change in the direction of a price trend. These are best used in oversold or overbought market conditions because the
| Term | Definition |
| Doji | The open and close are very close to each other. Doji candlesticks look like a cross or a plus sign. They can signify a change in direction when they are forming at a key level or at a price extreme. |
| Railroad Tracks | They are effectively a doji that forms over two days instead of one. In other words, the stock opens and closes at around the same level over two days. |