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Folks
I am a newbie.There are many technical indicators like RSI, MACD , sma, ema , Williamson% R, Arms indicator, TRIN etc., All of these may not be good for day trading. May be good for swing trading. What are the best indicators to learn for day trading to find oversold/overbought conditions, trend etc?
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Hello sudha78,
Its very interesting you mention oversold/overbought conditions. I had a post with Pivotprofiler indicating the same thing: there is no oversold/overbought condition. My advice for you is to study price action. Market internals will help you significantly such as: TICK, TRIN, PC Ratio, and Prem. But as a new trader you should not enter the wrong path as everyone else does by studying every indicator known to mankind. If you are working on reversal points, identify support and resistance. No need to complicate things, trading is fairly simple. (simple but not easy)