Arne Gronfeldt Indicator

[Philip <pschmi02@xxxxxxxxxxx>]

Greetings,

I ran across an indicator attributed to Arne Gronfeldt by a system 
seller named John Riley (System 2000).  I'm not about to buy his system, 
but the the indicator he describes claims to project the next day's 
High/Low.  Has anyone had any experience with it?

For the next day's Low:

1.  add today's H + L + C, then divide the sum by 3
2.  multiply the total by 2
3.  from that figure, you subtract today's High.

For the next day's High, the formula is the same, except that in step 3 
you subtract today's Low.

I haven't tested this indicator extensively, but I dropped it on July 
sugar, and it looks like the fast track to the poorhouse.  Have I just 
wasted 45 minutes of mine time - and 45 seconds of yours??

Philip