I created a nice indicator for one of the polish forex forum, and I want to share this with you. It is an indicator that helps you to put the initial stop loss. It uses median value of counting from upper and lower days values, then it multiplies it by the factor and adds a SLDistance param to this. It is able to count the values from //1 - Open; 2 - High/Low; 3 - Close. Check it, maybe it will be useful in your trading.
I want to represent new indicator - Efficiency_v1.
It's the polarized, normalized and smoothed Efficiency Ratio by Perry J. Kaufman.
Try to compare with any Ergodic, MACD, REI, CMO.