This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
Trading items are of different types. There are data downloaders, trading indicators, trading systems, watchlists, composites/indices...
You can use this item and hundreds of others for free by downloading QuantShare.
Top Reasons Why You Should Use QuantShare:
Works with US and international markets (stock, forex, options, futures, ETF...)
Offers you the tools that will help you become a profitable trader
Allows you to implement any trading ideas
Exchange items and ideas with other QuantShare users
Our support team is very responsive and will answer any of your questions
We will implement any features you suggest
Very low price and much more features than the majority of other trading software
Here is an indicator I am using to detect potential turning points in the S&P 500 Index. The technical indicator is the addition of the percent rank of the AAII Bullish Index and the percent rank of the S&P 500. The lower the indicator value is the more likely there will be a change in the direction of the market (Bullish Signal).
I usually look for bars where the indicator value is lower than 5 or 10. This indicates that both the S&P 500 and the AAII Bullish Index are declining and that a bullish change in S&P 500 trend is likely to happen soon.
I also wait for the S&P 500 to increase a little bit (above the close of the bar where the signal occurred) before considering that the signal is bullish.
The Percent rank of a time-series is the percentage of previous observations (depending on the look back period) that are below the current observation (current trading bar). A value of 100 means that the current value is the highest over the last N-trading bars and a value of zero means that the current value is the lowest over the last N-trading bars. The percent rank indicator can be downloaded here: Percentile - Percent Rank of a Trading Indicator.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
