Here is a simple demonstration to create Custom Nested Indicators using Ninjatrader 7. We had taken a simple example to plot Hull of RSI. At marketcalls we use Hull of RSI as sentimental indicator. The logic behind the multimeframe sentimental dashboard is nothing but the smoothed hull moving average of RSI. This bring more responsiveness and good in identifying shorter term trend cycles. Suits mostly for a discrete mean reversion traders.
Rotation Factor is a sentimental indicator used in Market Profile to Indicate who is control (Buyers/Sellers) in the market for the day. If the rotational factor prints positive values every day then it mean buyers are in control in the market. Negative Values indicates sellers are in control. Same principle can be applied to investing as well.