Those friends who have been following me for some time, know I use EMA on RSI for estimating the trend / direction of Nifty.
Many of you might have seen, (others may check my previous posts / ideas on this forum) where I have used this (EMA on RSI) as a effective system for determining trend.
The attached chart uses an EMA (Nine periods) over RSI (21 Periods) on a Two hour Nifty chart, two recent trend reversals have also been marked on for better understanding with real time examples.
Traders / Investors that are not much familiar with technical indicators may try this simple strategy and take better trade decisions. I must admit It is not as effective as the trend lines on RSI, but can be a effective tool for the ones not well versed with drawing trendlines manually.
As it can be seen from the chart, the system is showing a clear continuation of up move.
If you are a beginner, you may require help in setting this up on your system / phone. You may post your precise queries in posts, I'll try answer.
Please consider LIKE button, if you find it worthy or informative. You may also FOLLOW me for periodic updates on Nifty, Bank Nifty or select stocks. I also share update on Silver and Gold whenever there is a major trend reversal.
Many of you might have seen, (others may check my previous posts / ideas on this forum) where I have used this (EMA on RSI) as a effective system for determining trend.
The attached chart uses an EMA (Nine periods) over RSI (21 Periods) on a Two hour Nifty chart, two recent trend reversals have also been marked on for better understanding with real time examples.
Traders / Investors that are not much familiar with technical indicators may try this simple strategy and take better trade decisions. I must admit It is not as effective as the trend lines on RSI, but can be a effective tool for the ones not well versed with drawing trendlines manually.
As it can be seen from the chart, the system is showing a clear continuation of up move.
If you are a beginner, you may require help in setting this up on your system / phone. You may post your precise queries in posts, I'll try answer.
Please consider LIKE button, if you find it worthy or informative. You may also FOLLOW me for periodic updates on Nifty, Bank Nifty or select stocks. I also share update on Silver and Gold whenever there is a major trend reversal.