What are the best technical Indicators to do intraday trading ?
Each and every trader who are trading stocks, futures, forex trading Intraday are looking for the answer.
Well, i here list the indicators i am using for the intra day trading in stocks and Options.
. Bollinger Bands
. Slow stochastic
These three are the indicators i am using for intraday as well as positional trading.
Well some other people feels :
SMA - Simple moving average is the best one, they are telling 13 SMA AND 50 SMA , short period and long period respectively.
But for me, the SMA, nor EMA is good for intra day traders, because there will be lot of whipsaws , this will lead to loss. And these moving averages will not work when the market in consolidation period. Only will work if they market is in a trend, either bull trend or bear trend.
Another one is RSI, Relative strength Indicator , well upto me, this is also not good one. It may be work good in the daily chart, but not for day trading.