Stock Selection Based on Relative Strength
Aggiornato
Hello,
Here i will be talking about the process for picking up the stocks based upon the Relative Strength. As this is known to everyone but only few are getting benefitted by applying it in real trading. Most of the gains are made with the stocks having greater RSI. If RSI having > 75 those are the ones which create maximum wealth in Short time. Now, Question comes at what time frame it will apply and this depend upon the individual trading style. It works well on Daily, Weekly, and Monthly TF. The higher the timeframe the better the reward. This can be combined with the Price and Volume, It Can do wonder in your trading Journey.
Screener for Stock Selection in Trading View:-
- Go to Stock Screener Tab at bottom in the Tradingview.
- Go to Filters
- Symbol Type - Common Stock
- Select New 52 Week High
- Select Relative Strength Index (14) >=75
The above will filter out stocks on Daily Timeframe. You can add more filters according to your requirements and make your stock list more refine such as All Time High, New 6 Months high etc. and Make a list and look for opportunity.
As i am a Price Sction trader i mix this with Price and Volume and ride the momentum.
Few examples - Cupid, Glaxo
You can try it and submit your feedback to me. Also, Tell me if you find something else which can be useful to the community. Together we can help eachother in Learing and excel in profession.
Remember: I am a Price Action Trader and use Price and Volume together with different Timeframes, including RSI, and market conditions. To get best result always wait for confirmation. Focus on Risk Management and Position sizing.
Treat trading like a business and it will pay you like a business…..!!
Hope this post is helpful to community
Thanks
RastogiG
Here i will be talking about the process for picking up the stocks based upon the Relative Strength. As this is known to everyone but only few are getting benefitted by applying it in real trading. Most of the gains are made with the stocks having greater RSI. If RSI having > 75 those are the ones which create maximum wealth in Short time. Now, Question comes at what time frame it will apply and this depend upon the individual trading style. It works well on Daily, Weekly, and Monthly TF. The higher the timeframe the better the reward. This can be combined with the Price and Volume, It Can do wonder in your trading Journey.
Screener for Stock Selection in Trading View:-
- Go to Stock Screener Tab at bottom in the Tradingview.
- Go to Filters
- Symbol Type - Common Stock
- Select New 52 Week High
- Select Relative Strength Index (14) >=75
The above will filter out stocks on Daily Timeframe. You can add more filters according to your requirements and make your stock list more refine such as All Time High, New 6 Months high etc. and Make a list and look for opportunity.
As i am a Price Sction trader i mix this with Price and Volume and ride the momentum.
Few examples - Cupid, Glaxo
You can try it and submit your feedback to me. Also, Tell me if you find something else which can be useful to the community. Together we can help eachother in Learing and excel in profession.
Remember: I am a Price Action Trader and use Price and Volume together with different Timeframes, including RSI, and market conditions. To get best result always wait for confirmation. Focus on Risk Management and Position sizing.
Treat trading like a business and it will pay you like a business…..!!
Hope this post is helpful to community
Thanks
RastogiG
Nota
Also, It's an observation that the best move happens at When Relative strength of the stock at Monthly Time frame Ranges between 75-90 and this is also the zone for profit booking where stocks seems to be overheated and needs cool off. So don't forget to book profits at timely interval while riding the trand and momentum.I believe we don't need multiple trades to earn, few are enough with good position sizing and risk Management to gain.
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