I am currently testing the accuracy of a simple indicator that is based on EOD quote and trade data from ESignal. This indicator is not for daytrading, but should be useful for longer time frames and predicting changes in trend. Very simply, is parses ESignal tick files (*.EPF) and compares trades to bid/ask prices to determine the amount of outside buying and selling. It identified the selling pressure in MSFT before the recent drop in price, but I need to do long term tests to see if it will predict major trend swings. Below is the output of date, B% transactions at the ask (buying), S% transactions at the bid (selling) and a chart covering the relevant data range: 050824 : B27% S71% 050825 : B19% S79% 050826 : B21% S76% 050829 : B37% S61% 050830 : B19% S80% 050831 : B21% S76% 050901 : B20% S79% 050902 : B25% S73% 050906 : B31% S68% 050907 : B29% S70% 050908 : B31% S68% 050909 : B29% S68% 050912 : B29% S69% 050913 : B25% S74% 050914 : B24% S74% 050915 : B24% S74% 050916 : B16% S82% <-- Big Selloff spikes (mutual funds perhaps) 050919 : B26% S73% 050920 : B28% S71% 050921 : B25% S74% 050922 : B30% S69% 050923 : B29% S70% The real question is, will it show a shift in pressure near the bottom, and can one take action soon enough based on this information?