The video from this morning covers a number of useful technical analysis outlooks for the German DAX. We covered some of the key levels to watch and how the market is rotating.
DAX Analysis Webinar
Join us again on Monday at 8am (UK time) for another webinar looking at the outlook for the DAX and covering the charts and forecasts as normal.
Here is the channel you need to follow: https://www.twitch.tv/thedaxtrader/
How To Build A Rotation Indicator
The easy answer is to simply watch this video above and skip to 16:15. But to build a rotation indicator, you will need a good charting platform such as Sierra Charts and apply the following settings:
250-tick chart on the DAX
28 period RSI indicator on a blank chart with no other studies
75 / 25 RSI Overbought and oversold levels
Two ‘colour bar based on alert condition’ studies (one for buy and one for sell signals)
In sierra charts, your RSI should be ID1. Here is the code for applying the buy and sell signal logic, but you may need to change the arrows around in the settings:
SELL
=and(
id1.sg1[-2]>id1.sg2[-2],
id1.sg1[-1]<id1.sg2[-1]
)BUY
=and(
id1.sg1[-2]<id1.sg3[-2],
id1.sg1[-1]>id1.sg3[-1]
)DAX Key Levels
| Method | Price |
| VWAP | 13186 |
| Point of Control | 13180 |
| Value Area High | 13198 |
| Value Area Low | 13166 |
| Pivot | 13206 |
| R2 | 13326 |
| S2 | 13086 |
