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No response, maybe I haven't demonstrated the potential for this simple indicator too well.
Attached is a screenshot of the last couple of days trading, the middle indicator is the one I have explained above (although with the bands set at +0.10 and -0.10), the bottom is Aroon.
Although slightly delayed, look at when the market is consolidating the indicator is within the bands (not trade), then look at the Long/Short trend indications with the clear indication of when the trend is weakening. Surely with a simple trend based entry system as I have said before, this is the basis for a trading strategy ?
I am sure that with a bit of programming, this is a useful tool !
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