No offense, but Vic was quoting average % change for trends- the most important detail he left out was the dispersion of the data points that make up the average. Why's this important? If Vic's studies lead him to state that the average intermediate uptrend is a 25% move but the dispersion is +/- 15%, using the average is useless for real-time trading (the spread could be anywhere from 5% to 40%).
People often ignore simple but widely known methods. Moving averages (you know, KISS ) are good candidates to spot trend. Another candidate is MACD. Probably any trending indicator can do the job. Pick one which you feel most comfortable or useful. For ranges, turn to overbought/oversold indicators like RSI.
the answer is none. there is no indicator that will tell you when the chop begins and the trend ends. I know when the chop begins because my trending strategy fails several times in a row. By then it is too late to avoid losing. So the question should be "How do you survive the transitions between trending and consolidating phases of the markets?"
NN: Please tell me that the above tips dated 12-29-04 are useful, as I hope. Until today I'm still working hard to figure that out.
Does anyone know what software can do that? Plus record volume(bid/ask) on different price levels. Thank you.