My JB 8OC WEEKLY on UNG Nat Gas ETF
Thank you to those who have responded so kindly and favorably to my postings on the JB 80C indicator that I developed (quite some time ago). The JB 8OC indicator is based on a simple but powerful concept. Specifically, in bull markets no matter what the timeframe, closing prices of a given time bar tend to be higher than opening prices. In a bear market closing prices tend to be lower than opening prices. It's a simple supply and demand relationship. The JB 8OC algorithm takes this relationship into consideration, constructing an indicator to assess the relationship mathematically and visually. As in the case of many indicators, and in fact most indicators, there will be some choppiness but we can eliminate much of that choppiness by adding to the methodology a trigger which will filter out a good percentage of erratic trades. I will show a trigger in later posts if people have an interest in them. If so let me know. Now with regard to timeframe I realize that most traders want to trade very short-term time frames and I have no issue with that but my days of ultra short-term trading are over. I would rather work smart and take my time for bigger moves than work hard for smaller moves. Of course, it's a personal preference. The good news about this indicator is that it's adaptable to all time frames but remember- the bigger the timeframe the more stable the result. Best of trading. Jake RBT (rules based trader)
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