Best Indicator for Intraday Trading: Hey guys, we have found the best indicators for Intraday Trading in Indian Stock Market. In this post, we will look at the combination of three indicators.
These indicators work as the signal of Buying or Selling in Options or Futures.
So we can say these are the Best Indicator for Option Trading also.
Let’s see how these indicators work.
If we have applied those indicators in our Tradingview Chart then all three indicators give a confirmatory signal to the user. The Trader has to decide the Trade direction either buy or sell.
1. Parabolic SAR Indicator: The indicator having dots in the candlestick chart that shows the uptrend or the downtrend by making dotted lines above or below the candlesticks in the chart.
This SAR indicator gives the first confirmation of the trend.
The dotted lines below the candlestick show the uptrend in the chart. Where the dotted line above the candlesticks shows the downtrend in the chart.
2. Stoch Indicator: It is used to determine the direction of the market with the help of two ema.
It has one line in the middle of it that shows the movement of candlesticks below or above the line.
Look at the image below. In this image, if the ema crosses the white line from the upside of the line to the downside of the white line. Then a confirmation occurs that the market is showing a sell signal in the market.
If the ema crosses the white line from the downside of the line to the upside of the white line. Then a confirmation occurs that the market is showing a buy signal in the market.
It will consider as the second confirmation signal.
3. MACD Indicator: One of the best-used indicators in intraday trading. It also contains two ema where the red ema is called a signal line and the other ema is called a MACD line.
How does it work?
MACD Trading Strategy
If the blue line cuts the red line from the downside to the upside then it shows the signal of uptrend in the chart. And if the blue line cuts the red line from the upside to the downside then it shows the signal of the downtrend in the chart.
It is the third and last confirmation of this strategy to get the trend of the market in intraday trading or futures and options.
Finally, After the setup of these three indicators in the chart we can determine the direction of the market.
You can see that all three indicators work together to determine the direction of the market. These are indicators in stock market.
Note: Before working with real money kindly backtest the strategy well.
It is most successful in bank nifty trading.
You can watch the video of this strategy on YouTube here.
Thanks for reading, if you have any questions regarding this post kindly comment below.
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