DAY TRADING USING STOCHASTIC RSI, DUAL KELTNER CHANNEL, MACD & VOLUME ANALYSIS

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The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner channel system can improve your profitability because it adapts to the ever-changing market conditions.
The Stochastic RSI indicator, developed by Tushar Chande and Stanley Kroll, is an oscillator that uses RSI values, instead of price values, as inputs in the stochastic formula. The indicator measures where the RSI’s current value is relative to its high/low range for the specified period – thus becoming an indicator of indicators! It is important to remember that StochRSI is designed to predict extreme readings in RSI before the actual RSI reaches these extremities. As an indicator of an indicator, it is further removed from the actual price of the underlying security. Because it is actually predicting RSI, but being used to predict price changes in the underlying security, it will have greater sensitivity and be prone to false signals, especially if used incorrectly and for this reason, the StochRSI should be used alongside other technical analysis tools that may help to confirm the signals it creates. Using trend lines, basic chart pattern analysis or in conjunction with other indicators can help to identify major, underlying trends and increase the Stoch RSI’s accuracy.
The MACD indicator has to be one of the most powerful as well as predictive indicators. It is one of the simplest and most effective indicators used in trend following & momentum. The MACD is based on taking two moving averages and subtracting the longer one from the shorter one. The difference between the two moving averages becomes a histogram which fluctuates above and below the zero line as well as signal line. In short this book reveals the most effective ways to use MACD.
Volume is a rare commodity in trading – a leading indicator. The second, and only other leading indicator, is price. Everything else is lagged. As traders, investors or speculators, all we are trying to do is to forecast where the market is heading next. Is there any better way than to use the leading indicators namely volume? In isolation volume tells us very little. However, combining Price & Volume result in a powerful analytical approach to forecasting market direction
Day Trading is one of the fastest way to make money in the stock market. There is hardly a more effective method for increasing a trader’s capital. Intraday offers several other key advantages. One advantage is the ability to use tight stop-loss orders and increased access to margin—and hence, greater leverage.
Day Trading Using Stochastic RSI, Dual Keltner Channel, MACD & Volume Analysis is a fixed rules based trading strategy, which means it doesn’t need in-depth analysis and interpenetration to decide whether the formed trade setup is strong enough to enter the market or not. If a trade setup is formed you should enter the market, or there is no trade setup at all. Also, the reward and risk parameters are established from the outset.
Lastly to conclude, the price action trading strategy mentioned will result in significantly increasing the investment and trading profitability since we have multiple leading signals helping us to eliminate false signals. This book is a valuable summary of tried and tested short term trading strategy.
All trending instruments such as stocks, forex, commodities, futures, cryptocurrencies, etc. work well with this Trading Strategy.
The book has been written for traders who have never come across this methodology, and for those who have some knowledge, and perhaps wish to learn a little more. It is not revolutionary, or innovative, but just simple sound common sense, combined with logic. Hope this book will add value to your trading knowledge and will help equip you with the right trading techniques.
ASIN ‏ : ‎ B09PMLD9LZ
Publisher ‏ : ‎ Independently published
Publication date ‏ : ‎ January 7, 2022
Language ‏ : ‎ English
Print length ‏ : ‎ 40 pages
ISBN-13 ‏ : ‎ 979-8797347019
Item Weight ‏ : ‎ 5.4 ounces
Dimensions ‏ : ‎ 8.5 x 0.1 x 11 inches