Hi.
Is there a classical or formal way to define a market or currency is trending or nontrending (or sideways or directionless)?
Most of the times people refer to ADX to see if it's trending (ADX > 20 to 25) or nontrending (ADX < 20). Is this easily accepted or are there other ways to see this?
I know that visually is easy: if the chart goes from bottom left to upper right or upper left to bottom right so it's trending. But in Technical Analysis or using any indicator, how you define Trending or NonTrending?
Thanks,
Is there a classical or formal way to define a market or currency is trending or nontrending (or sideways or directionless)?
Most of the times people refer to ADX to see if it's trending (ADX > 20 to 25) or nontrending (ADX < 20). Is this easily accepted or are there other ways to see this?
I know that visually is easy: if the chart goes from bottom left to upper right or upper left to bottom right so it's trending. But in Technical Analysis or using any indicator, how you define Trending or NonTrending?
Thanks,