Monthly Bull and Bear Runs

Monthly Bull and Bear Runs

This little indicator simply checks on the first day of a month whether the previous month closed higher or lower and counts the runs of up months and the runs of down months .

It then also calculates how many months in a row on average the market went up before it had a down month and the opposite average for down months.

It also records the longest ever run for up months and longest ever run for down months.

Knowing at a glance how many months up or down we have recently had compared to historical monthly bullish or bearish runs and comparing how far we are into a run compared to when a change of direction usually takes place can be useful information when taking an overview of current market conditions. This indicator allows us to see that information at a glance without needing to refer to a monthly chart.

I recommend applying it to the daily chart although it will work on faster time frames. On faster time frames the amount of history available may make the output a little meaningless though.

As always I advise downloading and importing the ITF file to get full functionality.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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dario ti Thank you!
Razz Hello Vonasi super indicator! is it possible to extend the indicator by the time scales M10 ...
Razz Hello Vonasi I found out myself how I can change it. Thanks again for the indicator
Balmora74 Thanks for this code but there is 4 different versions and i don't know wich is the good one ?
Vonasi I don't understand. There is only one ITF file here not four. Download and import it. You mi...
Balmora74 Ok i understand now... I make a confusion with a other code... Thanks Vonasi.

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