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Showing results for tags 'discount'.
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STRSQZ -- Stretch and Squeeze (w auto calibrate) This indicator displays the premium/discount between a future contract and its cash index A popular display pair is YM and INDU Basic Concept: When the market is going up, the future leads the cash with premium. When the market is going down, the future leads the cash with discount*. (* or less premium) The key is to look for excessive premium/discount at points of change. (eg. at channel boundaries, price extremes, etc.,) Note that this is not a Buy/Sell type of indicator You will need to understand the workings of the market to exploit these signals. Instructions: set up 3 symbols in the chart: data1: INDU index (1 minute) data2: YM current month future contract (1 minute) data3: YM current month future contract (5 minutes) Set the first 2 symbols to invisible... the 3rd symbol is your trading chart (you can substitute the 3rd symbol with other instruments, eg. ES, NQ) Note: 1. The indicator uses a moving average to surpress the noise. The first few bars of the day is not displayed 2. The indicator will stop plotting when the cash is closed 3. The histogram color threshold is user adjustable STRSQZ_Stretch_and_Squeeze.txt
