The RexDog Market Bias takes the RexDog Foundation Base Indicators and applies weighted rules to provide a single percentage bias result based on the chart and timeframe you are looking at.
This should be combined with the RexDog Foundation.
* Consider this a Beta release with many improvements on the way. Also, realize at this time there are no hard rules on using this indicator-- but if you have a basic understanding of the RexDog System you will immediately see it confirms what you see on the chart. Also it will provide some gut checks when you get used to reading the indicator over time. In our initial beta testing, we've found it incredibly useful at a glance.
Indicator Overview
The base teal line is the bias rating.
On top of that you have the option (on by default) of having the m9, m24, and RexDog Average plotted based on this data point.
From there you have Long and Short bias with key 25% increments highlighted. These appear to be important turning points or momentum check-ins for the algo.
That's right these same highly reliable signals you use within the RexDog Trading System also work on the RexDog Market Bias. The same rules apply.
This is much more than an oscillator. It's combining all the RexDog Foundation and applies some initial smart rules to it. Further versions will build upon this.
General Usage:
Fades - when the market is at extremes these are potential signals for high probability fades
Momentum - when the market is coming from an extreme on a pullback to key levels (25, 50, 75) start to look for momentum entries
Don't argue with the chart. If momentum is over 50% look for confirmation from RexDog Trading Rules. The probability that momentum will continue is high when it's between 50-65%.
More rules to come. Finally, share your own findings in the DEN.