For me this is part of a wider attempt to have a few signals that draw my attention to a particular chart for a closer look, where I can then evaluate the context, strength, upside and risk of any potential trade. Similar on a basic level to having a simple Stochastic RSI cross as a trigger signal and then using other information to qualify the signals like the prevailing trend, proximity to strong S&R levels etc. Also to help look through more charts in less time, especially as I haven't been doing this for long enough to consistently have all the important and relevant info jump out at me! And any indicators I can code I can use in isolation or in combination with other indicators to automatically email me an alert once a condition is met. Again hopefully I can use that to be able to watch and react to more stocks in less time.
I've relaxed some of the textbook parameters for the ND and NS signals, so I imagine some of the signals may in fact be another SOW or SOS like a test of some type? As I add some more types of signals maybe I'll find that the NS and ND parameters can be further tightened and more specific.
The MNS recent NS signal may be an example of what you describe with serious selling in the background temporarily easing up? Price did move significantly higher but some serious selling came back in today!
(20min delay)
