$$ Martin Pring's KST

Martin Pring is prolific.  He has written many books about technical analysis.  He has a website which contains lots of free information as well as subscription services.   And he has created several different technical indicators.

One of the momentum indicators Pring devised is called KST or "Know Sure Thing."   He offers free daily short term KST charts at his website.  These charts are updated each night. 

Here is the current KST chart for the SPY ETF that tracks the S&P 500:

You'll note that some of the price bars are brown, and some are green.  This depends on whether the black short term KST line is above the red dotted KST line (green) or not (brown). 

Normally, you see brown price bars at bottoms, and green price bars at tops.  I take note when you see the opposite.  For example, we've put several brown bars in a row recently.  This is a warning that we are in the process of topping out.  It's not 100% foolproof, and that process can take time, but it's evidence.

Noticed what happened in May after the flash crash.  We rallied back up to the red dotted moving average on price, but the bars stayed brown.  This was evidence the downtrend was still strong despite the rally.  SPY fell hard after that rally lost steam. 

Likewise, look at the pull back in mid-July.  Price bars stayed green despite the correction, signifying that the uptrend was strong.  SPY shot up off that pull back into the early August highs.

The Pring website offers some other free charts and explanatory articles in addition to the short term KST chart.  Check it out.