How to Use RSI Indicator for Intraday Trading or Day Trading?
In trading using the technical indicator is not only necessary to make your trade successful but also helps to maximize the chances of returns and minimize the risk of losses. However, to use this indicator you have to perform the technical analysis , you need knowledge, skills and extra time with effort with all the resources like market data and tools. In intraday trading , you have limited time to perform the analysis and pick the right stock. Even some of the technical indicators are not applicable or useful while analysing the stock for day trading. However, there are still a few indicators that you can use for intraday. RSI is one of them we are going to talk about, how you can use it for intraday trading with the right strategy. What is RSI Indicator in the Stock Market? RSI stands for Relative Strength Index is a technical indicator used for trading to know if the stock is trading in the overbought or oversold zone. This indicator is based on the ...