It has been a while since I updated the above chart, but the 30 minute Range Trend should still be valid. The indication is that the market is more likely to sustain a trend between the open and 1130 ET and between 1330 and 1500 ET.
Here is a nice way of visualizing when Price and $TICK momentum are in agreement. The Price PaintBar is green or red when both Price and $TICK momentum are trending in the same direction. Yellow is when there is disagreement between the $TICK Slow and Fast Moving Averages. White occurs when the $TICK moving averages are trending together, but the Price momentum is lagging. Combine this with Time-of-Day and a 1 minute chart, and it becomes a nice momentum indicator for a scalper.
Above is an example of negative momentum.
Code for the PaintBar.
Charles
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