New Scalping Indicator Maybe
Posted on October 2nd, 2008
Written by Richard
Posted in: N/A (old archives)
Check out this 1597 share-bar chart of the ES futures:
The bottom subgraph is my volume splitter (which I have released through eotpro if you want it). The subgraph above that is a new indicator I’m testing out.
I’ve marked the chart with arrows LONG whenever:
- The new indicator is above zero, and rising after having fallen.
- The large traders are above zero and rising.
… and of course SHORT is:
- The new indicator is below zero, and falling after having risen.
- The large traders are below zero and falling.
Pretty good results! Promising anyway. I haven’t named the new indicator and I’m still watching to see what kinds of things it’s useful for. But, for scalping a fast chart, it appears to rock.
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.