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Manibalan, , Technical Indicators, Fibonacci retracements., Moving average and RSI, Technical Indicator- Tending vs non trending
Technical indicator – it is algorithmical indicating method used as a supporting tool and it is not decision maker.
Moving average – works exceptionally well in trending area.
RSI – works exceptionally well in non trending area.
Fibonacci series – Series of number when the next number is the sum of previous two numbers.
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 | ||
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Hi,
This will be the appropriate answer for the question What is RSI? How to identify the buying zone?:
Technical Indicators RSI works well in non trending time and indicates the overbought & oversold region. When the RSI is applied on the non trending zone, it provides the index with the mark of 70 and 30 scale. If the RSI scale goes above 70 mark it indicates the strength and when RSI scale comes back to 70 mark it indicates the overbought i.e. weakness is expected, here short position can be created. Similarly if the RSI scale goes below 30 mark it indicates the weakness and when RSI comes back to 30 mark it indicates the oversold i.e. strength is expected, here long position can be created.