In the above picture, you can see the area of the overbought area. but the Aroon
didn't indicate that not a problem because TI and RSI
indicate the overbought this is my idea: I use a different template in that TI indicates scalping and intraday trades. but it has a problem it can show the overbought. but it will not easy to understand so you can use ADX
also here. but I use RSI
for clear information many people use MACD
but TI is better than MACD
because it can also show convergence and divergence of stocks. TI is my own script but it covers more INDICATION.
this is my template: volume
I use aroon
for a very little support only.
I recommend you a statergy of paper trade with a overbought indicator(I recommend RSI
), Moving Average related indicator(eg:MACD,DMI)(I recommend TI my own script) and your favourite Indicator that is your choice because it is useful for your trading it can be a dummy indicator also but your favourite Indicator. comment for doubts..