I forget who it was wrote something to the effect that "price is belief." Perhaps a trading historian can educate me, I am just a code monkey. But I know belief when I see it, and attached it is. You can't get any higher than 100% belief (can you?), and empirically it seems that in the markets belief cannot drop below about 20%, which tells you a lot about market participants. The price is the top pane. The belief in that price is the second pane. See if you "Believe."
http://www.smothersbrothers.com/press_room/emmy.htm . tommy smothers in his award speech 40 yrs after the smothers brother's was canceled,more like censored, he smurkingly said at the end of his speech, truth is what you get people to believe,in reference to the censorship
Do you care to elaborate what inputs do you use to construct your belief indicator? Do you trade based on this (even better, in an automated fashion)?
I read all of your posts, thankfully a brief effort as you post about as often as I get laid. I am grateful to you for asking an intelligent question in a respectful way. For many years I have tried to teach ET new ways of looking at markets and trading, and mostly what I get for my avuncular goals is scornful ridicule. But I never give anything away, preferring to leave sufficiently broad hints that my undicators can be diverse-engineered. So I will show you another example taken from today, a day when "Belief" is in short supply. I do not yet trade automated because I cannot yet write code that sees things that aren't there like I do. I run several systems in parallel and select entries as untuition dictates, always seeking to quantify what I am not seeing that makes me take a trade. Belief is one of eight ossicators and indillators I use to confirm to me that a turn in price is tradeable. After all, any fucking idiot can see a turn. The trick is to determine if that turn will endure long enough to profit. "Belief" is one of those. So IMO it is not tradeable standalone. Here is my hint. It is incredibly subtle. With a hideously complicated algorithm. And takes eleven SLOCs to code. Think about what makes you "believe," and you can code it in a snap.