Written by:
Patrick Mikula CTA
Mikula Forecasting Company
www.MikulaForecasting.com
support@MikulaForecasting.com
Copyright © 2008 by Patrick Mikula All Rights Reserved.
One of MarketWarrior best proprietary indicators is the Million Dollar Pivot Finder (MDPF). I am now going to present an intraday 5 minute chart for the Dow Jones using the eSignal symbol $INDU. The first chart below is is a 5 minute bar chart for July 17. This chart displays local time CST. On this day there was two Change In Trend (CIT) signals from the MDPF. The first MDPF signal came just after 10AM local time and signaled a bottom. This is labeled “1″. This CIT signal was just 1 bar off from the exact bottom. The second CIT signal from the MDPF also indicated a bottom and was 3 bars away from the exact bottom. Both of these CIT indicators were very good for short term swing traders.
MDPF July17
The next chart shows the 5 minute chart for July 18. The time is local time and the symbol is the Dow Jones Index eSignal symbol $INDU. There were again two signals from the MDPF and both indicated a bottom. The first bottom signal came just before 9AM and the MDPF signal was just 1 bar away from the actual bottom pivot. This is labeled “3″. Finally the second MDPF signal on July 18 was a failure. The CIT signal came just before 11AM but a bottom did not occur this time. This means that for July 17 and July 18 the MDPF found 3 accurate pivot points and 1 failure on the 5 minute $INDU chart.
MDPF July18
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