While it is not an exciting indicator I use it daily for scalping the Russell 2000 futures contract (TF) contract. Basically it is a 2 period RSI and I am looking for extreme readings above 98 and below 2.
I have ported a version to NinjaTrader that allows me practice trade on the TF after hours and during the weekend using their great MarketReplay feature built into NinjaTrader.
The indicator puts up green and red bars in the indicator window when a suggested trade condition is setup. I use other data such as the TICKS and Volume to reject or accept the trades.
To download the RLRSI indicator into your NinjaTrader 7.0 click the download button. For a tutorial on how to install and import custom indicators go here.