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(EFS) Thirty Minute Rule (TMR)

15. April 2009
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eSignal Study: This strategy looks at the range of the first 30 minutes after open and indicates a break of this range.

In the example image, two black lines are drawn showing the first 30 minute's range. You can see that once the lower part of this range was broken (indicated by the blue arrow), a significantly more to the downside.  Thus, the TMR gauge is red and says "short".  Note, the script itself does not draw these lines nor the arrow, but merely the "gauge" on the bottom left of the chart.

Basic Idea:  After the first 30 minutes of trade:

  • If a new low is made, assume the market will close lower than that first 30-minutes low.
  • If a new high is made, assume the market will close higher than that first 30-minutes high.
 
Small message on the bottom left of chart will identify result.



  
 

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