TheStrat FTFC Indicator
TheStrat Full Timeframe Continuity (FTFC)
FTFC refers to Full Timeframe Continuity as defined by Rob Smith's TheStrat .
Trading in line with FTFC increases your chances of profiting as you are essentially following the trend, but rather than using a lagging indicator, FTFC is based on current price only, and as such gives a much clearer signal.
This indicator draws two lines on the chart, one of the highest of the Quarterly, Monthly, Weekly, Daily or Hourly opening levels, and the second of the lowest of those values. This gives you a channel above or below which trading is more likely to be very strongly in one direction. Between the lines, price action will be choppier and you may with to use wider stops.
A third dashed line is also drawn to show the mid point between the higs and lows. This is often a good place to find support or resistance as the market tries to push price in a certain direction. This line can be turned off if you choose by setting the colour to NONE.
There is only one setting, IncludeQuarterlyLevel, which simply allows you to choose to include the Quarterly open price in the calculation as some people prefer to ignore it.