Quite simply I am charting the OHLC data for the various FTSE indices in Sharescope with an up/down stop-loss set at x% (where x% is dependant on the actual index itself i.e. FTSE250 is set at 1%) applied to the CLOSE price each day.

The stop-loss tracks the index on the way up ... will form a plateau on the way, but more importantly will form a plateau which will be broken on the way down. It then tracks the index on the way down - forming another plateau, which will again be broken when the index turns.

The idea is to track the various indices and NOT predict the direction they will take or to what degree.

Although the indexicator is currently based on % stop-loss using previous day's close, I am also looking at applying the same % to the high/low values in an attempt to lock in a few more points, as well as a third version in an attempt to align with prices based on the volatility of the index. Watch this space - but don't hold your breathe.