Trend Dashboard On/Off
Last updated
Last updated
The Million Moves Dashboard is a tool that tells you about the current market trends without needing to switch timeframes. You can turn it on in the Million Moves Algo settings:
Explore how the Trend Dashboard's Volatility, RSI, and Timeframe functionalities provide actionable insights for informed decisions.
Volatility in trading refers to the rate at which the market's prices change. It's a measure of how quickly and dramatically the prices of an asset can shift within a specific period.
Our Volatility indicator on the Trend Dashboard is a tool that shows the current market volume. In simple terms, it tells you how much activity is happening in the market at any given moment. High volatility indicates a lot of movement and potential trading opportunities, while low volatility suggests a quieter market with fewer price swings.
Remember, we suggest avoiding trades when volatility is low. We prefer at least medium volatility. The Trend Dashboard's statuses show you volatility levels better. They're divided into:
Low: Indicates a period of minimal market fluctuations.
Medium: Represents a moderate level of market volatility.
High: Points to increased market movement and potential opportunities.
Very High: Signifies a higher-than-usual level of market volatility.
Extreme: Reflects an intense level of market volatility.
By monitoring the Volatility, you can get a better sense of the market's activity level, helping you make informed decisions about your trading strategies.
Inside the Trend Dashboard, we include an RSI value – a useful tool for assessing market sentiment. RSI stands for Relative Strength Index, and it helps us understand whether the market is leaning towards a bullish or bearish direction.
If the RSI value is above 50, we can consider it a bullish sign, indicating potential upward momentum. On the other hand, if the RSI value is below 50, we can see it as a bearish indication, suggesting a potential downward trend.
The RSI value adds another layer of insight to your trading decisions, aiding you in identifying market trends and potential trading opportunities.
If all timeframes show bearish trends (prices are generally going down), it suggests considering short trades. Look for opportunities to potentially profit when prices fall.
On the other hand, if all timeframes show bullish trends (prices are generally going up), look for chances to make buy trades and profit from rising prices.
When the dashboard displays a mix of both bullish and bearish trends, with no clear majority, it signals market uncertainty. Be cautious during such times.
The Million Moves Dashboard is a handy tool to see what's happening in the market at a glance!
Tip: When using the Trend dashboard, keep in mind that the signals from higher timeframes carry more weight. If the dashboard indicates a bearish (downward) trend on higher timeframes, it holds more significance. Similarly, a bullish (upward) trend on higher timeframes has a stronger impact. This weighting helps you align your trading decisions with the prevailing market direction for potentially better results.
