Herrick Payoff Index

Has anyone used this in trading Index futures please?
I am looking to find a method to incorporate volume and open interest into my TA and this appears to be the only indicator available.
I have a calculation for it - got it on
http://www.marketscreen.com/help/at...?hideHF=&Num=54
If anyone does use it then how have they dealt with the "value of a one cent move" factor - I am UK based and will probably use it on European Indices
Any help, pointers/advice/comment would be appreciated
Thanks
 
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