Multi Trend
Labels
Trend labels show the current state of the trend.
"Momo" = momentum. the state of the 8, 13 and 21 EMAs in relation to price
"Trend" = the trend -- where the 34 EMA wave is in relation to price
The "Momo" label corresponds to the upper row. The "Trend" label corresponds to the current state of the lower row.
The Upper Row
For example, if the 8, 13 and 21 EMAs are aligned bullish (meaning they are stacked from top to bottom as 8, 13, 21), then the upper Multi Trend row will be green. If aligned bearish (meaning they are stacked from top to bottom as the 21, 13 and then 8), then red. If there is NO lear alignment of all 3 EMAs on the top row, it will be yellow. meaning the momentum of price is neutral or sideways.
Lower Row
The lower row represents the trend relative to the 34 EMA Wave.
When the 21 EMA is above the 34 ema Wave, the row is green. When the 21 EMA is below the 34 ema wave it is red. The row is neutral when the wave is sideways.
What does a "double red" or "double green" mean?
A "doube red" or "double green" -- where both rows are the same color means there is a trend in the market and setups for trades will take that into consideration. Double green means a very bullish trend. Double red means there is a very bearish trend. Green and yellow or Red and yellow mean there is chop.
When both rows are yellow the market is very much sideways in a very tight range.
When that happens Raghee uses other tools such as the Slow Stochastic or a V-score to confirm setups.
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