the wallaby

Developed by Rob Booker

It's an indicator built using the regular Stochastic Oscillator as a starting point. The indicator is the subject of the 'The Wallaby Trade' latest Rob Booker's book that explains the benefits of short-term divergence trading for stocks, futures and forex.

The Wallaby Trade, is all about trading the pullbacks - when a trend enters a corrective phase. These are some of the best times to enter trend trades, with the tightest stops and the widest profit targets. At major market turning points, these pullbacks provide very early entries on a complete reversal of a trend.

It's all about learning to identify repeating, profitable patterns and then take action.

Wallaby indicator's new version has been uploaded! It now displays the timeframes watched in the indicator status window.