MEJT Indicator: Price-Action Signals and Rolling Buy-Sell Counts

Summary

This technical note presents the MEJT indicator as a price-action rule built from high, low, and close data. Its buy condition checks whether the current high exceeds the prior high, the close exceeds a high from two periods earlier, and the close lies sufficiently far above the low relative to that period's range. Its sell condition uses corresponding low and close comparisons and a range threshold. The pseudocode then sums buy and sell event variables across a configurable window.

The document names additional parameters for the indicator but does not explain their roles, define the displayed index variables fully, or provide an accessible interpretation of the cited indicator meaning. It includes no chart details beyond referring to an example, and offers no tests, market, timeframe, signal performance, or trading rules for acting on the counts. The conditions can therefore be understood as a candidate signal construction, but the note alone is insufficient to establish predictive value or reproduce the complete indicator reliably.

Key ideas

• MEJT uses comparisons among recent highs, lows, and closes to flag candidate buy and sell events.
• The buy rule combines upward price comparisons with the close's position within the current range.
• The sell rule applies downward comparisons and a complementary range threshold.
• The pseudocode aggregates event flags over a configurable rolling window.
• The note does not explain all parameters or provide performance evidence for the signals.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.