Main things to look at for buying - Page 2

Look up OBV here

A 1 month chart refers to each candle being 1 month, and I've never heard of a trader using that timeframe for signals. What chart you should be using depends on your style and the length of your trades. A scalper may use a 1 minute chart, where each candle is 1 min, and a swing trader may use a daily chart (1 candle = 1 day). Tinker around with things, you need to discover this stuff for yourself. I can tell you what I tend to trade off of, a daily chart, but that doesn't mean you should if that's not your style.

I use the monthly chart to time penny stocks. After a little tweaking, it has started to work for me as of late.

A monthly chart as in each candle is a month? Do me a favor. Report back in 3-6 months and tell me how well it's working and if you're still using it to time your trades.

I use it to gauge monthly volumes month to month. To guage price increase or decrease on a monthly basis. I have been using this technique since october and has helped me identify dminishing sells vs buys current month vs previous month.

Right on. I'm definitely not saying monthly charts can't be helpful, but when it comes to timing your entries/exits, you better switch down to a shorter time frame, which I'm sure you do. You may have a bullish setup on the monthly chart, but that doesn't mean that the short term price action can't be bearish for weeks, or even months, since each candle takes so long to form.

Timing your typical swing trades purely off of the monthly chart is like trying to daytrade off of a daily chart. That was my point.

Agreed I use multiple timeframes including the monthy charts to decide if the selling in a protracted downtrend is subsiding. I do look shorter time frames to pinpoint my entries but monthly chart to pinpoint strong resistance ( my exit)

Timing swing trades purely off monthly charts Is akin to financial suicide :-)