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    cTrader On Balance Volume & RSI Strategy

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    This starter kit for algo developers uses an open-source On-Balance-Volume (OBV) trading strategy to make buy and sell decisions based on the relationship between price movements and volume. OBV is a technical analysis tool that measures buying and selling pressure by adding volume on up days and subtracting volume on down days. An additional confirmation RSI indicator is added for a stronger signal.

    This product is for educational purposes only.
    Full Source Code Included.
    (OS) Type: Windows & Mac OS Compatible
    Current version: 1.0
    Updated: Tuesday, 11 June 2024
    Author: ClickAlgo Team

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    Educational content: Read our disclaimer

    £0.00 Incl. VAT.
    cTrader Software

    This cTrader On-Balance-Volume (OBV) indicator is a technical analysis tool developed by Joe Granville in the 1960's, it is used to measure buying and selling pressure. The OBV indicator works on the principle that volume precedes price movement.

    The strategy contains the full source code. It is for educational purposes to help traders with various levels of programming knowledge learn the following skills using Microsoft C# and the cTrader API. This cBot was created by the ClickAlgo Strategy Building Tool in a few minutes with no coding.


    How Does the cBot Open Trades?

    This strategy will open a buy trade when all two indicators show a bullish signal and sell trades will open when all indicators show a bullish signal. The core of the strategy is the On Balance Volume indicator which uses a Relative Strength Index indicator as a confirmation signal. The Relative Strength Index, which measures the speed and change of price movements, can be used with OBV to help identify overbought or oversold conditions and potential trend reversals.

    • A Buy trade will open when the OBV indicator value drops below the lower threshold level and the RSI indicator value drops below its lower threshold value.
    • A Sell trade will open when the OBV indicator value drops above the upper threshold level and the RSI indicator value drops above its upper threshold value.


    cTrader On Balance Volume Strategy


    Risk Management

    In addition to the trade signals to open trades automatically, the cBot also uses some basic risk management in the form of the variable position size based on the percentage of the account t balance, this unique feature will automatically increase the position (lot) size as your account balance grows for maximum profits. Also, included is a standard take profit and stop loss option.

    You can add risk management features and other trade rules by contacting our development team.


    Built Using the Algo Strategy Builder

    This cBot was built with no coding required using the cTrader Algorithmic Strategy Builder for the cTrader Platform.


    How To View The Source Code

    To view the source code for this cBot, you will first need to make sure you have downloaded and installed cTrader Desktop, you can also scroll to the bottom of this page for instructions on how to install the cBot. Once installed you will have the cTrader application open, you need to navigate to the Automate application and click on the name of the cBot, the source should show in the right-hand window.

    If you need more help watch a video tutorial on how to use cTrader Automate.


    How to Attach Indicator to Chart

    You do not need to attach the On Balance Volume indicator to your chart when you run the cBot, but it is a good idea to visually see the indicator to check your trade rules for opening and closing trades and any risk management.


    Learn Algorithmic Trading

    In this instructional guide, we aim to assist you in acquiring the necessary skills to engage in market trading through automated trading strategies (cBots) using the cTrader Desktop trading platform. This course is designed to familiarize novice traders with the fundamental principles of algorithmic trading utilizing the cTrader platform.


    Learn Microsoft C# for Algo Trading

    If you are new to coding your cTrader cBot for automated trading the following Microsoft C# course will help you modify the starter kit cBot in this download to add new features for your personal trading strategy.


    Algorithmic Trading Facts

    Many traders venture into algorithmic trading with the misconception that they have discovered a foolproof strategy that guarantees effortless wealth. However, this notion is far from reality. It is crucial to read this article, as it can save you valuable time and money. 


    How To Install & Remove

    First, make sure you have the cTrader trading platform installed.


    Any Questions?

    If you have any questions, please first search our coding help forum for the answer, if you cannot find it, post a new question.


    Need Coding Help?

    We can help you modify this cBot for your trading strategy, contact our team for a quote.


    Need a Broker

    If you are still looking for a trustful broker, look at our best cTrader broker site.


    All cBot Code Examples

    You can access all of our free cTrader cBot code examples here.