Technical Analysis questions, help please?
Hello
Just a couple of things.
1. What software can I use to scan through the DJIA for stocks that meet RSI<20, Stoch<20 crossover?
2. What do the numbers mean?
Bollinger Bands (20,2)
RSI(14)
And what should they be set at if I want to day trade or trade intra-week?
Thank you very much
Comments
Space has done a good job answering your questions.
As for the RSI(14), the RSI compares the magnitude of a stock’s recent gains to the magnitude of its recent losses and turns that information into a number that ranges from 0 to 100. It takes a single parameter, the number of time periods to use in the calculation. Widely used periods are 14.
So that explains RSI(14),
September 5th, 2010 at 2:12 am
1. There’s only 30 stocks in the DJIA. It’s probably easier to set the indicators and just to flick through them than set up a scan. Meta Stock and a data provider that includes a custom folder of the DJIA stocks for the software. http://www.equis.com
2.
Bollinger Bands: 20-period simple moving average, 2 standard deviation bands from the moving average. Leave as is for intra-week. Also use a 50 week simple moving average.
I don’t use Relative strength Index, so I can’t comment