As you follow along with my Daily Direction newsletter, you’ll notice some key indicators along the right-hand column. These simple icons are there to give you a quick summary of what our featured futures market is doing for the day.
The goal of Daily Direction is to give you the information you need to make winning trades. And the key to my strategy is keeping everything as simple as it can be. That’s why these indicators are so valuable when working out your trading plan for the market!
In this article, I’ve focused on giving the basic details of each indicator icon to help you understand what they mean and how you can utilize them in your daily trading setup:
Daily Timeframe Indicators:
The daily timeframe allows us to see the overall direction for a futures market at a day-to-day level:
Green Up Arrow: Indicates that the overall direction for the daily timeframe is up. That means the price movement is currently positive. The market is making higher highs and higher lows. We can expect money-making opportunities in the long term.
Red Down Arrow: This means the general direction for the daily timeframe is down. We’re likely to hold off on making long-term trades as we wait for the market to pivot back toward a positive direction.
One-Hour Timeframe Indicators:
The one-hour timeframe gives us an hourly snapshot of a market’s price movement. We use the one-hour timeframe chart to plan our entries:
Green Up Arrow: The current short-term trend as revealed in the one-hour timeframe chart is up. The price of the market continues to track upward, giving us confidence that we can find opportunities to buy the market and make profitable trades.
Red Down Arrow: Our one-hour timeframe chart reveals that the short-term direction for the market is down. This could be due to a retracement (temporary price dip) or a total reversal in the market. This is when we should be cautious with our entry strategy.
The Bottom Line Indicators:
The Bottom Line portion of our Daily Direction indicator section gives an overall review of whether the market has made a solid U-turn toward a bullish run or down to a bearish sell-off:
Green Up U-turn: The market has U-turned from a previous sell-off/retracement and is preparing to make a bullish run into a buy zone. We should prepare our entry strategy and look for opportunities to buy the market.
Red Down U-Turn: Indicates the market has started a sell-off from a previous bullish rally and is headed down to a new low price. It’s best to wait and see how low the market will go before examining our buying options.
Neutral: This indicator tells us that the market is currently not in a position to U-turn. It’s either trading sideways, in a solid bullish run, or still finishing out a bearish sell-off. This is a good time to focus on our current position within the market.
These indicators work best when combined with my full analysis in each of my Daily Direction articles, as they correspond with the market we’re currently following. They allow you, the reader, to quickly assess the overall direction of the futures markets we trade without having to follow complicated charts and graphs. I hope this informative article helped you better understand how my newsletter works. Be sure to check out my other free resources on futures trading!
Reader interactions
25 Replies to “Daily Direction Indicators”
Thanks Josh for having me in your team. You are a wonderful teacher and very humble person I can see.
Always feel delighted in your class room.
Thanks again
Hi Kuldip. Thank you for your kind words, it's more than our pleasure to have you! We look forward to continuing to share our research with you!
What is it you need from me
Josh is amazing, what guts does it take to share these secrets to the people who always trusted this crooked system. I respect that.
Hey Doug! Thanks for dropping a note. The Traders Agency team is here to serve our entire student community. We appreciate you!
Great minds think alike great
Amen to that!
I can’t wait to learn the system that I was just reading about
Hey Anthony! We can't wait to share it with you! We're looking forward to working with you!
JE REMERCIE TOUTES LES PERSONNES QUI M'AIDENT DANS MES RECHERCHES COMME MES CONSULTANTS, PROF YVES POURCHER ET PROF KEFING CONDE .BIEN CORDIALE:ENT.
Yesterday, I tried to log into your weekly webinar. I tried for an hour or more, but I never got in. Why!
Hi Lawrence. Our sincerest apologies! If the webinar was at max capacity, which happens often - the host will not allow any more guests to enter. Hopefully you're able to register for another event and can join us. Please give us a call if you're having trouble enter an event in the future. We look forward to working with you!
Thanks Josh I look forward to you showing your up/down indicators.
Hi James! It's more than our pleasure, we look forward to working with you!
Josh
How do I put my Daily indicators on my charts?
Hi James. Your chart will need to be set to a Daily timeframe in order to apply daily indicators. Note, intraday indicators will not plot legible on higher timeframe charts than they were designed to work on. If you have any further issues, please feel free to call our highly trained support staff. Thank you for reaching out and we look forward to working with you!
Hi. I read the emails, like them a lot, but when you say RTY, all I get is RTY-F. Is this correct?
Thank you,
Rick
Hi Richard. Thank you for your kind words, we are glad you're enjoying our content. RTY is the ticker symbol for the e-mini Russel 2000 Index.
welcome
Greetings Josh, I want to know where can I get Information or training on how to set strategies when trading? I am new. There's a little field, when placing a trade that says, ATM. (I use Ninja Trader), I believe it has something to do with getting in and out of a trade. Not sure though. But I want to know how that works or how to set strategies anyway.
Thanks!
Hi Edward. Thank so much for leaving us a comment. If you'd like help with using our indicator strategies in Ninja Trader, please contact our highly trained support staff and they'll be more than happy to answer any questions you might have about applying them to your platform. 888-438-5161
Waiting for my financing to come through then I’ll jump in with feet
hi
Whats up wiith selling options right before they expire since 76% of options lose become worthless. Can profits be made on this premise$ charles a.
Hi Charles. Options are an incredible tool for a trader to have access to. Understanding them and being able to utilized them within the parameters of your trade plan is invaluable!