Bullish percent index

Here is the bullish percentage index with commentary from Sqwii.I know Ron Walker,Columbia and Albertarocks all place a lot of trust in this indicator too.European traders may be less familiar with it,I am not aware of a FTSE equivalent.

http://sqwiitrader.blogspot.com/

"I wanna share you one of my FAVOURITE indicators or tools out there which is excellent on swing trade positions and that is the Bullish percent index with an EMA(10). This gave actually a swing trade sell signal early May and have been on sell until 27th June. SPX were 1370 early May and around 27th June around 1280. Thats a big profit you would make on these signals - you could probably try them out for swing trades - and if this is reliable its still on buy signal until it moves below EMA(10). You can try it out and see how it works for you - but I find it pretty good overall - remember nothing is 100% right."