Worden T2108 indicator

[ctrlbrk]

Has anyone ever heard of the T2108 indicator? (There is also a T2107). It seems to be a Worden indicator as part of their software packages.

I was wondering if there is a Ninja port. I can't even find the source, Google is not cooperating with me today.

There seems to be some market pros that use this type of indicator to identify OB/OS on a daily chart for the ES.

Mike

[rretch]

I've used a similar indicator in StockFinder (another Worden app) and it's nothing more than a % of stocks moving above a MA. So, you can, for example, find all stocks that are above the % criteria you've set up in the scan (you can change the % or the MA or anything else in the indicator).
If you are trading the ES, i could see how it may be useful -due to it scanning the S&P (or any stocks you've entered to scan) every day/hour/etc. with this indicator.

From a Worden trainer:
"T2108 is the percentage of stocks above their 40-day average."

http://forums.worden.com/default.aspx?g=posts&t=32314

-robert

[rretch]

sorry ctrlbrk....had it all wrong.

T2108 is something that you can pick from a list of "T2's" type of indicators that are in Telechart and StockFinder. I say 'type' of indicator because they are not really indicators, they are more like 'studies' or custom indicies that come with the applications. Here is an image of T2108.

The 1st panel the the T2108, the 2nd panel is the indicator I 'thought' was the T2108, the 3rd panel is the S&P...all have the same MA's

-robert

[ctrlbrk]

Thank you Robert. That really helps me understand it now.

You gotta love the slick interface of StockFinder... I especially loved their charting capabilities with indicators, here is hoping NT7 is similar.

So I guess it is not possible to do this in NinjaTrader, at least not with only futures-only Zen-Fire (which is what I've got).

Mike

[rretch]

you're welcome.

I got beat today on the ES. I didn't think that reversal was gonna hold (even though my instinct told me a reversal was on the way around 870+).....but looking at the T2108, I think i may revamp what I use and try that along with the '% above' indicator and the McClellan Oscillator when trading the ES. They all seem pretty strong together. It's too bad, because i'd prefer to use NT.

But yeah, if NT7 could implement any of these would be nice.

-robert