We made a lot of money trading this trendline last year, especially in April - October. Swing trading becomes easier when we identify the market's predominant price strucuture.
And now it looks like the predominant trendline from last year is back in action, giving us a swing high today (today the S&P Futures closed with a Key Reversal Candle, which is a bearish engulfing candle that happens at the current highest price in an uptrend).
If last year's big trendline is asserting itself again, it is likely to form into a parallel channel like it did last year. The bottom rail of that channel is shown on the chart above.
What is the oscillator you used in the middle (red and green)?
StrategicTrading
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@Fiestero-3, It's a custom-made indicator, which is based on a band of exponential moving averages. Very simple.
I make all of my own indicators and tools, based on how the market is changing over time. What worked a few years ago doesn't necessarily work today, so I create new tools to adapt to changing conditions.
If you're talking about one of the lower indicators, that's another simple custom-made indicators to show short-term overbought and oversold conditions.