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Relative Strength Index (RSI)

'ELECON' ready to switch 'ON' 💡💡 !!!!On daily basis, 'Elecon' has given a breakout from an inverted head and shoulder pattern which was under construction since November with buzzing volumes. On weekly basis, a breakout of cup and handle pattern is visible with rising RSI also RSI has breached above 60 which is a positive sign. On monthly basis, a breakout of 'N' pattern is visible which signifies the strength i.e. after retracement it is still giving a breakout. Here, RSI took support at 60 and witnessed the breakout. NOTE:- the only sign of caution is that spinning top is visible and RSI has reached resistance level on daily charts, also dividend is pending, so there is a chance of retracement on daily basis hence, try to accumulate near breakout level.
NSE:ELECONLong
by Chaser30
Rsi crossover A slightly altered version of RSI with 3 RSI together Near rsi Intermediate rsi Far rsi I usually use 10,21 and 3rd rsi as a optional one When Rsi 10 crosses above Rsi 21 , its buy ( you can use any values but the concept is same) and vice versa One more major thing which I observed is that the RSI crossover coincides with Trendline breakout most of the times.Sometimes Rsi crossover occurs but there won't be a Trendline breakout, or vice-versa indicates a false signal. You need to sample some trades to understand this behaviour. You can also draw trendlines over rsi similar to stocks and observe breakouts in rsi . Cardwell ranges briefly, bullish stocks usually take support at 40 and strongly bullish takes support at 60. Resistance usually 80-85 rsi values Bearish resistance at 60, strongly bearish at 40 , usually takes support at 20. Stocks oscillating between rsi 60-40 resistance & support usually in sideways market. Disclaimer: no indicator works 100%. You have to observe it , backtest and tweek based on your requirements Update: Added a new fill between rsi 1 & rsi 3
NSE:NIFTY
by VarunNeel90
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