I think I've found something predictive if you can make me a simple Ninjatrader 8 Indicator that: 1. Draws extended rays from the closing prices of each adjacent High. 2. Draws extended rays from the closing prices of each adjacent Low. - The highs and lows are strict, no period involved. If the price goes down, then a high was made. If it goes back up then a low was made. ex) 17.93 H, 17.53 L, 17.77, 17.77, 18.25, 18.52 H, 18.33 L, 18.42 H, 18.18, 18.09, 17.93 L, 18.00 etc.. - Unch or identical closing prices cause a dilemma. When they're at a high or low, just use the most recent one as the anchor point for the extended ray. 3. Highlights parrallel (equal slope) extended rays. All of them is fine but if you can get the ones that are close together that's even better. Not inspired? Check FHB (First Hawaiian Inc) and guess where the price is headed? as thanks, email indicator to netflixmoviemom@gmail.com.
what would be the predictive power of drawing lines on the prev high low of the prior bar? I'm making the assumption that a Donchian channel with a period of 1 as fordwwind suggested is what you were talking about. I was confused by your description.