A simple way to detect market bull or bear

[tsunamizawa]

A simple way to detect market bullish OR bearish.
sum stocks on RSI 70 zone and sum stocks on RSI 30 zone.
if bullish , RSI 70 line will go up, RSI 30 line will go down.
if bearih , RSI 30 line will go up, RSI 70 line will go down.

 

[Charles Bronson]

Hmmm.....

 

[tsunamizawa]

SNP eod oct 15

 

[CostaKapo]

RSI as a stand alone stochastic is a terrible indicator to base market timing on

 

[brewski1984]

Or you could just zoom out to a daily/weekly/monthly timeframe and have a look whether it's going up or down?

 

[drtro]

It doesn't take a genius to look at the S&P or the NASDAQ or the DOW and tell whether it's trending up or down.

 

[Mr. Charts]

Of course it might be in a narrow or a wider range on different time frames in which case what looks like a short term bull or bear might not be.
Eyeball is best, you really don't need to rely on any indicator in my opinion. If it's not obvious, you can always look for another trading instrument which is trending - if that's your bag.

 

[billyjean]

Too plain and simple. It may do the trick one or two times but not more. I would rather suggest to wait use basic S&R strategy to determine breakouts..

 

[tsunamizawa]

RSI as a stand alone stochastic is a terrible indicator to base market timing on

Ipay attention to the chart , you see, t is not RSI indicator, no OB line , no OS line.
RSI used for filtering only, srocks on RSI 70 zone & stocks on RSI 30 zone.
by comparing grren line ( stocks on RSI 70 zone) and red line ( stocks on RSI 30 zone ).It will tell us the market condition, strong or weak.

SNP eod oct 17

 

[tsunamizawa]

SNP1121
only 17 stocks left on RSI 30 zone

 

[Forexmospherian]

Nothing is simple in trading

THINK

If trading to make money was simple - why do 80 -90% of traders lose ??

The industry and the guru's try to keep the ideas simple and easy to follow to pull in more new traders - who will then lose money

Trading to make monies on going is very complex and needs a lot of in depth understanding of TA - gameplays - and of course money management.

Any time you think Price looks bullish or bearish - think - is this a setup - because maybe over 60% of the time - IT IS

GL

Regards


F

 

[hefoba]

If you read the RSI book. - https://g.co/kgs/dx3avF - then you will read that during uptrend will RSI move between 40-80 and during downtrend 20-60.

 

[quanttraderx]

Thanks for sharing. I generally use the simple moving average and that works just as good for finding trends but that's just one of the conditions for a trade setup.

 

[MakeAyour]

I have been using this trend following indicator since January, frankly it gives very good signals, it helps me a lot in my day trading : Trend Indicator

 

[hefoba]

I have been using this trend following indicator since January, frankly it gives very good signals, it helps me a lot in my day trading : Trend Indicator

So you start to sell it?