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Four Highly Effective Trading Indicators for Indian market
Candlestick pattern is a movement in prices shown graphically on a candlestick chart. It is one of the oldest and Best Indicators for Intraday Trading still in used.If the closing price is above the opening price, then a green candle is formed which is called bullish candlestick. If closing price is below the opening price then a red candle is formed which is called bearish candlestick.
In below image the first section is called candle stick pattern. Blue and red color line is called long moving average and short moving average line respectively. Best Equity Intraday Trading Strategy can be made with moving averages. When short moving average cross long moving average (near cross over in image) then market moves up and is called golden cross and When short moving average cross long moving average in downward direction market moves down.
Second section is MACD-moving average convergence and divergence. It shows buy and sell volume.
Third section is called stochastic. Below 30 is the oversold region and above 70 is overbought region.If stochastic line crosses above 30 in upward movement, then bullish market takes place. When stochastic line cross 70, it reaches over bought zone and profit booking takes place and stochastic line move downward.