Vedic Cloud and Vedic RSI Support Resistance Indicator is a technical analysis tool used in the financial markets to identify potential areas of support and resistance for a given security. Developed by Najoomi Ji, this indicator uses a combination of the Vedic Cloud and Vedic RSI to capture momentum and provide insight into potential price movements.
The Vedic Cloud is a unique charting technique that uses a combination of moving averages and other technical indicators to create a cloud-like formation on the chart. The upper and lower boundaries of the cloud are used to identify potential areas of support and resistance for the security being analyzed.
The Vedic RSI, on the other hand, is a technical indicator that measures the strength of a security's price action by comparing the magnitude of its gains to the magnitude of its losses over a specified period of time. This indicator is used in conjunction with the Vedic Cloud to identify key levels of support and resistance.
Together, the Vedic Cloud and Vedic RSI Support Resistance Indicator can help traders and investors make more informed decisions about when to buy or sell a security based on the potential for price movement. By identifying areas of support and resistance, this indicator can help traders set stop-loss orders and take-profit targets, as well as provide valuable insights into potential price trends.