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Technical Analysis Topic: The Relative Strength Index
Momentum indicators can help us determine when a security is overbought and oversold as well as trend direction and strength (underlying price chart). While momentum indicators have a lot of similarities, the Relative Strength Index is the preferred momentum indicator of many traders.
The Relative Strength Index (RSI) is a “bounded” momentum indicator, meaning that it has set range from 0 to 100. It considers recent price activity in order to determine a securities momentum. Levels above 70 are typically considered overbought while levels below 30 are typically considered oversold. Lower periodicity RSI’s can look for more extreme values for short term trading opportunities.
Stocks To Watch with: The Snap Analyzer
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The Concept Behind the "Snapback"
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Additional Qualifying Factors
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Confirming Trades with the Snapback Module
Determining Big Move Potential
When analyzing prospective trades, we want to select the trades that have the highest potential for gains. Nirvana Systems has done extensive research to determine likely short-term profits. One of the factors we have discovered is the fact that the size of a pullback against the trend often leads to bigger gains. This led us to create the Snap Analyzer.
The Snap Analyzer allows users to explore a securities likelihood to “snap back” on string pullbacks in an otherwise strong trend. This analysis is conducive to most trading approaches, but it is particularly effective for short-term swing trades.
Join us every Monday/Wednesday at 5:30pm EST
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What is Market Pulse Dot Live (MPL)?
MPL is complementary content about trading the current market with some technical analysis education too.
A typical show covers the following topics:
- Overview of Today's Broad Market
- Summary of Groups on the Move
- Technical Analysis Lesson
- Stocks to Watch
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Join us every Monday and Wednesday at 5:30pm EST.
Watch past episodes on our YouTube Channel
Nirvana Systems has been creating Trading software since the 1990's. Nirvana was founded on the concept of automated trading, our CEO, Ed Downs, fell in love with the potential profits offered by the markets but quickly realized that emotions were getting in the way of success and it was too difficult to find good candidates. Nirvana Systems has been creating software that automates Trading ever since.
In our experience, traders using chart analysis are often looking for short-term profits, a Snapback move, andrelish tools that determine when these Snapback moves can occur.
