Best technical analysis indicators for intraday trading
1. Best Exponential moving average crossover for intraday trading
Moving average crossover is very important technical analysis indicators for intraday trading.
Most of the traders fail to identify the right combination of moving average. For intraday trading, 5 days EMA, 8 Day EMA, 15 Day EMA in 15 minutes timeframe is very useful. It provides very reliable signals for further movement of stock.
2. Adx indicator for intraday trading
Most of the trader ask how to use ADX indicator for intraday trading. ADX indicator measures the strength of the trend. It confirms whether we are in a trending market or sideways market.
Standard Rules of Adx indicator for intraday trading
- If +DMI is above -DMI and ADX value is between 0-30 stock trend is UP and But Strength is weak don't Take any trade.
- If -DMI is above +DMI and ADX value is between 0-30 stock trend is Down and But Strength is weak don't Take any trade.
- If +DMI is above -DMI and ADX value is between 30-50 stock trend is UP and Strength is Strong take half of your position.
- If -DMI is above +DMI and ADX value is between 30-50 stock trend Down and Strength is Strong take half of your position
- If +DMI is above -DMI and ADX value is between 50-80 stock trend is UP and Strength is VeryStrong take half of your position.
- If -DMI is above +DMI and ADX value is between 30-50 stock trend Down and Strength is Very Strongtake full position
- If +DMI is above -DMI and ADX value is between 80-100 stock trend is UP and Strength is a very strong exit from your position
- If -DMI is above +DMI and ADX value is between 80-100 stock trend Down and Strength is Very exit from your position.
3. Stochastic RSI technical analysis indicators for intraday trading
Stochastic RSI technical analysis indicator is one of my favorite indicator. Trading setup includes Heikin Ashi candle and stochastic RSI. Setting for RSI and stochastic RSI is 8 periods and time frame is 15 minutes. The overbought and oversold levels for Stochastic RSI is 80 and 20.
4. Bollinger bands trading strategy for intraday trading
Bollinger band is a multipurpose indicator. It is used to find out the stock volatility - stock trend direction - stock support and resistance levels. Bollinger band works on the principle of moving averages. The default setting of the indicator is 20 days EMA. Bollinger band contains three lines called upper band - the lower band - middle band. Stock price generally moves in between these three lines. Before any big movement in the stock, Bollinger band get squeezed. If stock price close above upper band line stock move in +ve direction. If stock price close below middle line and lower band stock price move -ve.
5. Bollinger bands and Stochastic RSI trading system for intraday trading
For intraday trading set time frame to 15 minutes . Wait bollinger band to get squeez. If stock price close above upper band line and Stochastic RSI at crossover at 30 stock move in +ve direction . If stock price close below middle line - lower band and Stochastic RSI at crossover at 80 stock price move -ve.
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