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Joined: 11/20/2006(UTC)
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In keeping with what I perceive as a reasonable approach to trading, I wish to first define the current state of the market in terms of whether it is trending or moving sideways. If it is trending, I will then look for indicators that use moving averages. If it is moving sideways, I would prefer to use stochastics/RSI.
My question is, how do you determine whether a market is trending or moving sideways? I currently use the ADX, ie an uptrending ADX suggests the market is trending, a sideways or downtrending
ADX suggests the market is moving sideways.
I'm wondering if others have other tools that they prefer?
Thanks
John
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Rank: Advanced Member
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Joined: 8/16/2005(UTC)
Posts: 182
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Hi John,
Well, I don't have MS 10, would the pre-conditions of RMO system be an approach to define the market state?....
Upward trending:=
Cond1:= Fml("Rahul Mohindar Osc (RMO)") > 0;
Cond2:=Cross(Fml("SwingTrd 2"),Fml("SwingTrd 3"));
(not sure if Cond1 along or Cond1 And Cond2..??) Well, I think those who have MS 10 can anser this. Similary for downward trending.
BUT IT DOESN'T DEFINE SIDEWAYS MARKET~
Hope this gives you some input.
Sa
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