When coding expert advisors or indicators, you sometimes have to determine wheter the market is trending/ranging or not.
What is your way to do that?
When using a single moving average (e.g. SMA 200) you get the main direction of the market (maybe you will look to the higher timeframes also).
When using the RSI (current/higher timeframe), you know the current value, but you donnot know if there is the market is ranging in the timeframe you are trading in.
Eg. at chfjpy - in the 1 hourchart (4H and so on) we have an uptrend. But in the 5M and 15M chart we have got a quite ranging market.
When trading (not scalping) in that timeframes we maybe would have lost money.
So, what is your method to determine what is going on?
Do you use the adx for example (higher timeframe), do you compare the difference between upper/lower bollingerband in current/higher timeframe or do you use some other method (maybe atr?)?
What is your way to do that?
When using a single moving average (e.g. SMA 200) you get the main direction of the market (maybe you will look to the higher timeframes also).
When using the RSI (current/higher timeframe), you know the current value, but you donnot know if there is the market is ranging in the timeframe you are trading in.
Eg. at chfjpy - in the 1 hourchart (4H and so on) we have an uptrend. But in the 5M and 15M chart we have got a quite ranging market.
When trading (not scalping) in that timeframes we maybe would have lost money.
So, what is your method to determine what is going on?
Do you use the adx for example (higher timeframe), do you compare the difference between upper/lower bollingerband in current/higher timeframe or do you use some other method (maybe atr?)?
PM me with coding requests and I'll probably put you on my ignore list