Read the thread from the start and it will answer most of these questions. If you are too lazy to do this, then you should not even attempt to trade. As others have stated, there is no holy grail. You need to come up with your own strategy to trade and try to incorporate some of the tools presented in the better ET threads. Proflogic has been very nice to help others try to use his tool. But remember its a technical indicator only, you will need to spend years of study to possibly trade successfully.
Sorry I haven't been keeping up with the posts but I've been working on a new database and workspaces. 1000 workspaces takes a bit of time. Jander, some opportunities will end up being profitable but you won;t take them because the set-up wasn't perfect. My feeling is, who cares. I'm only concerned that the ones I DO take are profitable. Remember that all decisions are taken from a single chart. You can use a slower one to give you more confirmation of longer term strength and the histogram (at least) should be moving in the direction of your trade decision.
My method works inside any combination of fractional charts. I simple use "7"'s because they are consistent. Yes, rules are the same using any chart. The CVS Bar charts improve almost any method as well.
Someone could send you the code in this thread, I have the indicators that my programmers created for me but not the code itself. The Histogram is a combination of the "slope of the Ergodic" and the Ergodic itself from the next fastest fractional chart. The multiplier for the faster charts is "7" to create the Prime Trading Oscillations. You can re-create it more accurately using two data streams in the same chart but some programs will not allow this. MultiCharts will. The posted rules contained the specific entry and exit rules. Once you understand the environment they aren't hard to follow. If you get the charts created, call me ans I will walk you through the trades step-by step. Seeing them is a lot easier in real-time because that is how they have to be traded. The slower chart are more comfortable to read as well.
I have the exact indicator for MultiCharts and Tradestation. If you have either one of those, email me ans I will send you access. Once you have them loaded I will walk you through the objective signals so you can then watch them in real time.
I posted about this earlier. The Ninja formula needs to be multiplied by 3 to get the range. This histogram should be set to the difference between the ergo line and the signal line (in the NT code these are called eco and average). This might not be exactly Bill's Multicharts algo, but it's certainly close. HTH - palinuro