One chart is not the market
You are long the Nasdaq and the setup is clean. What you do not see, because it is on another screen or on none, is that the dollar has been climbing for an hour and the S&P has stopped following. The trade fails, and afterwards the reason was visible the whole time. It just was not on your chart.
No index trades alone. Stocks, the dollar and volatility move as a group, and when they disagree, the single chart in front of you is the least reliable witness.
I wanted the group in one corner of the chart. The Algorex Market Board lists Dow, Nasdaq, S&P 500, Gold, the Dollar Index, VIX and oil, each with its price, the change today, the change since the New York open, the share of the average daily range already used, and a trend arrow.
Above the list sits one light. Risk-on when stocks rise while dollar and fear fall. Risk-off when it is the other way round. Mixed when the markets disagree, which is the most useful of the three, because it tells you to wait.
The board finds your broker's symbol names by itself and hides markets the broker does not offer. Click a row and the chart switches to that market.
Free for TradingView, MetaTrader 5 and MetaTrader 4.
