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EL code for momentum indicator -- use as a trigger or filter in conjunction with other indicators etc inputs: Price( Close ), MomBars(7), MomMaxMinBars(30), AvgMomLength(3), MomOverBotSold(70); variables: mom(0), AvgMom(0), Minmom(0), maxmom(0)...

basic canned momentum overlaid on an average of momentum, with top and bottom lines representing % of extremes in momemtum high and low during past 20 or 30 bars. It's similiar to stochastics. Coded in EL, displayed in chart see second panel of previously attached chart

NOTE: I would have closed that the previous BUY at around 12:30 when my momentum indicator reversed.

See attached for 2m ES trades today <img src=http://elitetrader.com/vb/attachment.php?s=&postid=2137405 width=800>

As the traders say, the tone is improving......... Bonds Banging Better... 10-yr +26/32 yielding 3.639% The market continues to cruise higher with the 10-yr yield pinging around either side of the sticky 3.645% level for the past hour. The market is regaining its flight to quality status...

How low? 880? 865? 850? 835? Lower???

I think we go lower.... BUT I AM VERY SUSPICCOUS, SCEPTICAL, ABOUT THIS DECLINE .... yesterday and today. Looks too easy. Trading is never ***that*** predictable.

Correction : TWO minute sell I am going to keep tabs of TWO MInute ES trades only here in ET But will be following 1 m ES and 2m NQ and 5m ES trades in my real time testing

1m Es sell @ 922.25

Point taken. But, backtesting is useful in esatablishing the logic and parameters are tradeable and there is potential. Backtesting also allows one to filter out rank bad systems and concentrate on potentially profitable systems. There are still several issues to be worked out in this...

2m buy ES @ 927

profit target @ 927.25 keltner exit @ 929.5 take any one

1m ES buy @ 921.25

1m sell @ 915.50 Keltner @ 911.5

take some off the table - now, half set stop in others to 925 or 930 close all @ 908 or better

Financials and tech outperforming other sectors - good for bullish case -- possible turnaround later

ES 903 as POC in Enthios. 903 to 908 --- break below that and we go back to 867

Just to compare: 1m NQ sell @ 1264

NASDAQ outperform DOW & SPX Am looking for test of 908 ES

1m sell was @ 927.50 with ketlner exit @ 920