Futr: high/low from open indicator.

[Jonathan Stewart Dempster <aceit@xxxxxxxxxxxxxxx>]

these are paint bar studies/indicator , basically highlighting the change
of high/low from open Im not saying it can be used as a stand alone
indicator, its just an idea.maybe some already use it...

 

1) IF: average(high-open,length1) crosses above average(open-low,length1) 

1) length1 set to 2 on sp500, and im looking at maybe to enter long to open
if the price exceeds the high of the signal days bar. this waits for price
action to confirm, and hopefully gives best chance of success. 




2) IF: average(open-low,length1) crosses above average(high-open,length1)
 

2) same average for the short side, again short to open if price falls
below low of signal days bar.  




objectives, well data used is end of day, and im thinking along the lines
of holding the trade for only the day following the signal day and to take
a profit when a target is reached...ie  1 or 2 points maybe in the sp500.  

i havent got intra day data, so if anyone can achieve any interesting
results, let me know. otherwise ill just have to wait until i get real time
data..


comments welcomed... J.S.D.