This is a mixolydian
picking exercise, actually from a song called Eternal Passage. This song is one of my 9 songs on the 2nd OSV album, which is available worldwide through iTunes. Click here to download the bigger version of the tablature and the mp3:
http://www.4shared.com/file/21328009...ydian_pic.html
As you can see on the TAB below, this sequence consists of fretted and open notes on the high E string. Rhythmically, the notes are all triplets, but I spiced up the pattern, starting in a regular way (one fretted and one open note), then throwing in some extra open notes to bounce off the feel a bit.
Notice that bars 1-2 and bars 3-4 have pretty similar lines, but in the latter half the fretted notes are played a third higher.
You can practice the whole exercise with just one finger for each turn - with the index finger on the first occasion, then with the middle finger, etc.
Keep on playin' & you might want to check out some of my guitar videos as well on
http://youtube.com/tamasjonas