The formula you published (only one I saw around) seems to apply only to ES (or S&P) trading because of the constants (0.83, and 2.66) that were "reverse engineered"
I saw some people trying to apply it to YM and complaining that it didn't work. I would use 8.30 and 26.6 instead as YM is roughly 10 times ES. (No tests performed yet)
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.