how to identify the market type
- Thread starter robinxing
- Start date
Market Profile - google it
robinxing,
I posted a link that may be able to be used in other markets...it is designed for Forex. It is a not the traditional approaches, suggested thus far.
This is not a quick usable answer to your query, but it could be accurate, with the help of some programmers.
Michael B.
http://www.elitetrader.com/vb/showthread.php?threadid=86772
I posted a link that may be able to be used in other markets...it is designed for Forex. It is a not the traditional approaches, suggested thus far.
This is not a quick usable answer to your query, but it could be accurate, with the help of some programmers.
Michael B.
http://www.elitetrader.com/vb/showthread.php?threadid=86772
No but yes.
Yes but no.
On what timeframe?
Trend for that day. If it is an inside day by virtue of the previous day's close it could still be a "trend day" but still be an inside day versus a breakout to new highs. Are there ever new lows? Timeframe matters.
And the short answer is you can tell a trend day at the market close.
But yes there are some characteristics of the markets which telegraph the liklihood of strong directional movement. VOLUME.