Can someone help me to find a suitable Indicator to see market condition, whether the market is [B]Sideway[/B] or [B]Trending[/B]
I know some Indicator to see the market condition, it is the [B]Bolinger Band[/B] and [B]ADX[/B]
But the BB it is pretty lagging (cause the basic to make the BB is the Moving Average that is usually lagging)
and the ADX, it is pretty of hard to use and sometimes it is less accurate to predict the market condition
I would really gratefull if fellotraders can help me find an accurate Indicator to read the market condition
Thank’s :44:
Surely just by looking at a chart and drawing a few trend lines/support and resistence ares, you can tell if its trending or not? Why would you need a indicator?
I spent several months trying to come up with a superior indicator and failed. It was my quest for the Holy Grail of automated trading. Like James stated, it is so simple for a human to detect even a 5 year old child could be taught. But trying to convert a human evaluation into code is a real challenge. Bollinger Bands are the best I have found, but they certainly have their shortcomings.
If you find a indicator that can tell you real time the condition of the market…then you just have found the holy grail… the best as others had said is your eyes and brain…
But if you want a play a little with an indi…this may be the best I have found:
Like the others I spent a good amount of time trying to somehow automate the process of identifying trending and ranging environments. At the end of it, it all went to waste and I learned to just accept that my eyes is the best tool for the job.
Yeah Guys,
You are right the best Indi to see If the market is ranging or trending is with your eyes,
Indi are always lagging, cauz it basicly make from past data
It is more easy to see the market condition with your own eyes
Now I just use my eyes n never use Indi anymore to see the market condition
Thank’s Man for your advise :44:
jimmyho
However, I am also working on trade automation and for that you must have an indicator. There is no such thing as CANT. I am looking to automate a day trading system based on a 15 min chart. I have spent a long time looking at this problem and my conclusion is the best approach for my time frame is the HIGH, LOW and CLOSE of the previous day. Pivot Points may also be a good solution (as someone already suggested) . Easy to see and VERY EASY to automate.
Good luck to everyone designing BOT systems (and everyone else).
