Trading against the trend or in sideways markets can be a costly mistake. Understanding market trends and employing strategies that align with these trends can enhance trading success and reduce the risk of losses. Remember, patience and discipline are key virtues in the world of trading.
✦ Over 90% of traders lose money by trading with the wrong and sideways trends.
Tools Required – Trend Strength Screener by TRED
The Trend Strength Screener shows the trend’s strength on a real-time basis. With the integration of the 9 most used technical factors into one screener, this feature enables you to confirm the strength of a bullish or bearish trend as well as the sideways momentum of the market.
1. Strong Bullish Nature – If more than 6 components of the screener are green or bullish then it shows the strong bullish strength of the market.
2. Strong Bearish Nature – If more than 6 components of the screener are red or bearish then it shows the strong bearish strength of the market.
3. Sideways Nature – If all components of the screener are showing mixed colors or a neutral nature then it shows the sideways nature of the market.
