Hi Lai

It's good to know that I seem to be moving in the right direction. For some reason I imagined that the aim of the indicator was to look into the future, and based on that assumption my main focus was on expected future (rather than past) trading days. While holidays and weekends can be predicted there's always the possibility of the unexpected. The "9/11" Twin Towers tragedy was one such event that appears to be factored into Jose's indicator, just as mine would have been if I'd gone that far back.

You appear to imply that 9/11 and other unexpected "future" events should be factored into one's back-testing. I grant that the data missing from my indicator makes it unsuitable for back-testing. That said, if I were to create such an indicator with back-testing in mind I'd most likely choose to exclude unexpected events from the "days left" count. In my opinion neither approach is necessarily right or wrong, just different.

Roy