Mastertrend: bullish or bearish, every F&O future

How it decides

• Bullish when the price goes above last month's high + x%.
• Bearish when it goes below last month's low − x%.
• Bullish confirmed when it goes a further y% above the bullish level.
• Bearish confirmed a further y% below the bearish level.
• Bullish (not confirmed) turns bearish below the lower of last week's / this week's low − z%.
• Bullish confirmed turns bearish only below last month's low − x% (monthly, slower).
• Bearish turns bullish above the higher of last week's / this week's high + z%.
• Bearish confirmed turns bullish only above last month's high + x%.

x / y / z: NIFTY and BANKNIFTY 0.75 / 0.75 / 0.15%; stocks 2.5 / 2 / 1%. Worked out on the futures chart (front month, rolled after each expiry), 15-minute steps, splits and bonuses adjusted. Never sideways: it stays where it is until the opposite level breaks.