!RL_PCT Percent Change Indicator for TradeStation – NEW 11/15/2009

This is my latest version of the !RL_PCT indicator that I use both for trade planning/mapping and intraday monitoring.  Those that trade live in our trading room at http://TTTHedge.com have seen me use this indicator daily.

I have added several new features including a Gain mode as well as a Pullback Mode.

This is the indicator in action on a 60 minute chart of RIMM since the beginning of November. The indicator tracks the lowest low and plots according to the user’s input the Gain since the latest low.  RIMM has had quite a run from the beginning of November, up 20% by November 11th and has now pulled back to the 16% level.

Here is the same symbol with the indicator running the Pull-Back mode (-1). You can see that the last RIMM pull-back was to the –6% area, currently we are sitting at the –4% area, perhaps waiting another –2% would be the best time to buy in here.

Directions for use.  Hint.. click on the image to get a larger version of the image.

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This entry was posted on November 14, 2009 at 8:12 pm and is filed under Featured, Indicator. You can follow any responses to this entry through the RSS 2.0 feed.