Knowing when the U.S Economy is a recession is very important to all market participants. There's many option to track recession , but most of them can be complicated and simply don't have the time to go through all the details .If you are like me , you simply want a snapshot and make your decision within seconds.
Once easy way to quickly read recession level for the U.S economy, is to plot unemployment level versus its 12 month moving average. You see , there 's no recession without unemployment being above its 12 month's average. Based on that information, I quickly plotted the information in my TradingView chart. The Code for U.S unemployment is FRED:UNRATE, data provided by Quandl.
As you can see, the chart highlights in red , recession periods from 1949 till today. It's not perfect , but as a busy person, this is all I need to know whether we are in a recession or not. Hope you will find this helpful.
Code and chart are available on the indicator/ Strategy page