Hi ES,
I use a couple methods to determine if I will expect a rangebound or trend day. First, I will look at the previous days
%TREND. If the %TREND was low, I would expect the %TREND to be higher for the day and vice versa.
I also look at the first hour range. If the first hour range is narrow, then I expect a choppy market unless I see a valid range extension.
Third method I use is by tuning into the pit audio and determining if the pit is full or empty. An empty pit is like watching paint dry. You want to be in the markets when there is market participation.