Hi Andrew, I can see how the macd and the stochastic can be used for trend definition, but I've never heard of the RSI being used. As for whether they are correct or not, is very subjective. If thats how YOU define the trend, then nobody can say they are not correct. As long as you are consistent in its use, and in retrospect they are able to account for the large proportion of a trend without too many false signals, thats half the battle.
That said, I haven't found any indicator that can capture the trend from inception to end. If I were you I would look at the definition of a trend and then look to identify its characteristics and learning how and when to spot those characteristics. Even that is fallible and will lead to false signals, but its far more reliable that any indicator in my opinion. Nothing is fool proof, absolutely nothing so I wouldn't go looking for an indicator to solve it for you.
let me know how you get on with that definition...
Interesting point about RSI. Momentum is the rate of the stocks price rise or fall. So stocks that have had positive price change(or higher) should have larger RSI and vice versa. I find MACD and Fibonacci rather usefull as well.
All your indicators are based on price. You do not analyze volume. At the same you leaving behind volatility.
I prefer analyzing all trend parameters - price, volume and volatility.
With Price based indicators I prefer using those that have volatility factor as I see that these indicators have better performance: True Strength Index, Ultimate Oscillator, Awesome Oscillator, Volatility adjusted MACD. I use ATR in % to track Volatility. And I use Selling/Buying volume to analyze volume and money flow.
I've posted a reply to a similar question on another thread that may be of interest to you - and it contains a couple of useful links too. See what you think: MACD signal line centreline cross