Hi, Is there such a thing as an indicator that tells you general levels of support or resistance for a given instrument (YM, ES, ER2 or NQ)? Note that I'm not talking about S/R at a specific level, but just something that gives you an idea of whether it is going to be a range-bound or trending day in general. Thanks
Look into Person' Pivots. Person was on the ToS show and tell last Wed. Can you imagine if his parents had named him "People" he would have been a real People Person.
Do intra-day extremes keep getting taken out quickly or are there well-defined extremes with the market moving back towards mid-range?
I can tell from the chart what is looking like a good day for my system and what isn't, but what I was after was a way to quantify it somehow for backtesting purposes. (My system is designed for range-bound markets).