Market Condition Evaluation based on standard indicators in Metatrader 5 - page 8

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hoan:

This template is very difficult to determine decision we should buy or should sell
That is easy. Did you use MACD? So, it is almost same except the following: read line is for bearish (downtrend) and blue line is for bullish (uptrend). Both blue and red lines are drawing with signal line. So, any combination of those lines are providing the information about primary or secondary trend for us. 
 

1.2. Secondary trend.

- Correction
 

Correction

 

 to be more specific:

 

 

1.2. Secondary trend.

- Bear Market Rally 

 

 Bear Market Rally

 

to be more specific:

 

 

1.2. Secondary trend.

- Ranging 

 

Ranging (buy and sell on the sametime)


to be more specific:

 

 

1. Trend following

1.1. Primary trend
- Uptrend (bullish)
- Downtrend (bearish)

1.2. Secondary trend.
- Correction
- Bear Market Rally
- Flat (non-trading)
- Ranging 

2. Overbough/oversold ('top-and-bottom')

3. Breakout  

 And finally - flat (not buy and not sell)

 

 To be more specific:

 

 
This indicator will be avaliable in CodeBase soon. By the next few posts - we will discuss about Overbough/oversold ('top-and-bottom') and about Breakout.
 

This is flat for USDCHF H4 for now(Absolute Strengh indicator): red (sell) line is below the signal line, and blue (buy) line is below blue signal line, and both the lines are falling

 

 

It was correction for EURUSD and for now - correction is finished and we may have flat or bearish (or breakout for example):

 

 
newdigital:

This is flat for USDCHF H4 for now(Absolute Strengh indicator): red (sell) line is below the signal line, and blue (buy) line is below blue signal line, and both the lines are falling

It was correction for EURUSD and for now - correction is finished and we may have flat or bearish (or breakout for example):


It was breakout for EURUSD and breakdown for USDCHF:

 

 

By the way, USDCHF is acting as a leading pair for USDCHF/EURUSD in many cases. I mean: this pair is started to move first and EURUSD is just following it with opposite direction (it was my experience). 

 

And this is practical example about how to use market condition for trading: 53 pips in profit for now

 

 

This is update:

 

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