If you're an intraday trader, what are some of the common or creative ways you determine that the next trading session or next day will likely be a ranging or choppy market? (or any market condition other than a trend)
For that matter, the only tool I have in mind is to use the classic Standard Deviation of a certain period and a moving average of the StdDev of a longer period. For example, try StdDev 13 Exponential on Close and Moving average 21 Exponential and in Apply to, you choose Previous indicator's data. Trendy markets are when your StdDev is above the moving average or ranging when it is below... You can still play with the parameters in order to find what better suits you.
This is the best I have in store. It may not be perfect but still can do its part of the job... And I guess NEVER before the range happens but when you are actually in it.
Take a look at the levels first. Market ranging is often tied to strong key levels. Learn the basics of market patterns in order to understand what patterns exist. This is the minimum set of knowledge to see side movement or building a directional trend.
