Mindlessly flipping through charts today this caught my eye. Top is the Nasdaq 1982 to current; bottom is the 10 day simple average of the absolute value of the % change from the previous close to the current open. When using stops I found it’s a good risk management tool for avoiding periods when your stops won’t be much use. The cutoff shown in the chart is at 1%, which was entirely arbitrary.
What caught my eye this time is at first glance it could be a decent longer term indicator of turning points. Second glances most often don’t turn out so well but it’s worth looking into.