This is an indicator that I had written to help my scalping. I want to take fewer counter trend trades. I have a couple of ideas on how to do that. I am still working on the other idea, but this one is a decent trend indicator.
I like this trend indicator, but I would not use it by itself. I will see how it complements ( or doesn’t as the case may be ) my setups.
Anyway, here is the chart of it on the 6E futures on Thursday of last week. The U.S. had the Fourth of July holiday on Friday.
