The ECO2New2 is a Momentum Oscillator that is not affected by opening gaps. See William Blau's Momentum/Direction/Divergence book.
Trading Ergodics with the Trend - Rules:
1. Enter or hold position only when slope of ECO2New2 Signal line has the same direction as the trend
2. Stand aside when slope of ECO2New2 Signal Line is in the opposite direction of trend
3. Enter or exit position when ECO2New2 and its Signal Line cross
4. Take note when the ECO2New2 is 'inside' it's signal line. This indicates failing momentum. This is what the magenta dot signifies.
Author: Zoltran
The original Ninja forum thread: https://ninjatrader.com/support/forum/showthread.php?t=3693&highlight=eco2&page=11
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0.0.13: YES Jura
Category NinjaTrader 6.5 Indicators NinjaTrader 7 Indicators
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