LaFontaine calls this Right Angle nymphing method "Hang-and-Bob" for lake fishing during a light breeze. His preference is with a soft action rod to protect the tippet, cast downwind and let the "current" pull the slack out of the line, and keep the rod tip low to the water. Without any retrieving and allowing for the waves to simulate movement, the fly stays in a specific, targeted area. Complete bobber fishing with a fly rod!
I usually put a good two feet between my flies to try out different depths at the same time.
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There's no greater fan of fly fishing than the worm...
I use this rigging technique on Putah a lot for high sticking just as a way to run straight mono. When I high stick, I keep the indicator out of the water. Then if necessary I can let the drift run down and indicator fish the end.
I'll have to watch your indictor-less technique sometime. I can see it in calm waters or high sticking, but I'm clueless on fishing the head of a pool or a deep run without an indicator.