Destination Trader (Invite-Only)

Summary:
The Destination Trader is used as a visual guide to help determine short term market direction as well as potential exit price points. Every 120 minutes a visual horizontal line will stamp on the charts. The lines will never move and are fixed. From past history, the markets have shown it tends to move towards the horizontal lines until the price point equals the horizontal lines. The ultimate goal with the destination trader is to use it as a visual guide to help determine short term direction and potential exit price points.


What the script does:
Without revealing all of the Destination Trader scripts underlying logic, we want to provide you enough information to understand what this script is doing. One of the most common patterns in the market is wave movements. If the market is to trend bullish, it will usually make higher highs and higher lows, if the market trends bearish it will usually make lower lows and lower highs, and if the market decides to move sideways, the market will usually create equal highs and equal lows. The Destination Trader script takes into consideration the highest price point and the lowest price point of the last 120 minutes. From there it calculates based upon a formula a forward projection of where price may end up between the highest price and the lowest price of the last 120 minutes.


How to use it
The ultimate goal of the destination trader is to be used as a visual guide to help determine short term direction and potential exit points. The Destination Trader has been designed for the Futures Market on the 5 minute time frame. A person can use the Destination Trader on any Future symbol of their choice. Once the Destination Trader is on a five minute time frame of a future symbol. A user will want to wait until the Destination Trader provides a visual horizontal line. The user can then apply their own entry strategy to trade in the direction of the destination trader visual horizontal line. Once the price of the market equals the Destination Trader horizontal line. That particular Destination Trader horizontal line is considered fulfilled and the user should no longer use that Destination Trader Horizontal line for short term direction or a potential exit. The user will need to wait until the next Destination Trader Horizontal line presents its self. Remember, the Destination Trader will provide a visual horizontal line every 120 minutes.


What markets it is meant for
The Destination Trader is designed for the Futures Market on five minute time frames.


Under which conditions
The Destination Trader works best in sideways markets with low average daily trading ranges (Under 100 ticks a day). A user will want to try and stick with symbols where the same market price points are often hit over and over again. The Destination trader tends to have a poor performance in trending market conditions and in futures symbols with larger average daily trading ranges.