Hi…You got it wrong. No RSI…RElative strength is different and RSI indicator is different. Relative strength ( RS) measures the relative outperformance of a stock price compared to Nifty index or its sectoral index. While RSI measures the strength of stock price compared to itself over a period like 50 days or 60 days. On trnedlyne, its a simple relative strength is used where you can select a universe of Nifty 500 and outperformance over a week or month is screened.
Exponential EMA is used to consider the prominence of recent price data compared to simple average. EMA also takes care of trailing stop loss concept. You dont have to apply trailing stop loss seperately and it keeps the things very simple. Why 30 weekly EMA , is because, it allows us to ride the upmove to maximum extent. If you apply 9 EMA or 15 EMA, you will get sell signal frequently and it would turn into trading instead of investing. For good stocks, 30 week EMA is very rarely broken, sometimes 2-3 times in a decade…You can remain a long term investor even after following stage analysis which seemingly appear as technical trading based strategy.
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