Anyone use the WOW index? It makes sense to me, but I have not tested the idea yet. has any used it? www.algofutures.com
Carl Weiss is the guy who designed that index and is actually here on ET using the name TapeReader. He doesn't post alot, but check out what he has posted, at least that's a start. Its all about order flow, which i am still currently trying to grasp myself, so I can't give you more than that to go on.
I look at it during the day occasionally.. so far I've not found it to be in harmony with my trades but I have not spent much time looking at it.. I might find that I have more success when it is in harmony... open opinion so far.. probably what I'm trading is not following the Eminis... I've experimented with different indicators that are supposed to show buying or selling pressure, can't recall ever finding anything useful at all...