The beta version of MarketDelta that recently came out has a cool new technical indicator they call the Multiple Price Highlighter. You can read all the details here, but what I wanted to show off today is a setting they call “unfinished business”.

I have heard JP of JPJ Trading call this out in his trading room, but now it has been actually coded up and included in the software JP uses, MarketDelta.

My simple layman’s definition of unfinished business is “a price where I expect the market to return.” That’s it. According to MarketDelta, unfinished business is a price extreme within a bar (the hi, lo, or both) which shows buy AND sell volume. This is best understood if looking at a bid ask Footprint, so click on the chart below.

Notice how the marked prices have BOTH buy and sell volume at that price. The idea behind this pattern is there was enough interest by both the buyers and sellers to create prints at these prices.

In looking over this indicator, there are a few patterns I have noticed that are important to note. Don’t assume each time you see a red or green do that a price will be revisited. Use these rules as guidelines then tweek to your trading preferences.

RULES

• Bars that have a higher high than previous bar and have unfinished business, look for a retest or higher high in the future.
• If a bar has unfinished business at both its high and low, ask yourself what the current trend is. If trending higher, put your attention on the unfinished business at the high.
• The example below shows a trending market with unfinished business on each bar that put in a higher high, EXCEPT for the last bar which reversed market direction and did NOT have unfinished business.

Here were my settings.