Objective: Build a master list of methods for determining trend direction.
Aspiring traders will benefit from a single point of reference for developing this particular ability. OP will be continuously updated with convenient links to the different strategies.
Please post anything you don’t see on this list.
John
We don’t count on luck.
At a glance.
Zoom out and ask yourself what the direction is. This doesn’t account for a potential reversal, a beginner strategy.
Here’s a very simple one I found in some beginners’ book (I can’t remember which, now). I think it’s not a bad one for most forex traders’ purposes.
“When a 20-bar SMA is above a 50-bar SMA and both are rising, in any timeframe, there’s an uptrend in that timeframe. When a 20-bar SMA is below a 50-bar SMA and both are falling, in any timeframe, there’s a downtrend in that timeframe.”