Sentiment Indicator for Order Flow Trading

[Spectral_Analyst]

Daemon Goldsmith in his book Order Flow Trading describes about a sentiment indicator which is constructed by combining all the known fundamental & technical information for the given instrument like Open Interest, Implied volatility, fundamental ratios, news, intermarket correlations etc. This sentiment indicator shows where majority of the long term and short term traders are perceiving value for that instrument. Thus the sentiment indicator helps you to predict breakout direction & future trends, acting like a leading indicator.

 

Although, the usefulness of such an indicator is infinite, he dosent mention the process of making this indicator in his book. Has any indo traders come up with such a sentiment indicator. Any opinions, ideas or reference books, research papers, blogs etc. for developing a leading sentiment indicator is most welcome.

[mcmillan]

The Book:

 

http://www.filedropper.com/orderflowtradingforfunandprofit-daemongoldsmith