Can I have stock chart settings with only RSI and moving averages for day trading?
The relative strength index (RSI), one of the most popular technical indicators, is computed on the basis of the speed and direction of a stock’s price movement. This means that the RSI indicator only measures the stock’s internal strength (based on its past) and should not be confused with its relative strength, that is compared with other stocks, market indices, sectoral indices.
‘Trend is your friend’ is a cardinal rule of technical analysis and the investors/traders can benefit by trading in the direction of the trend. The RSI is also used for determining and confirming the trend.
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