iCharts Discussions

RAJASIMHAN · White Belt Joined: 15 Mar 2009 Posts: 13

HAI,
WHAT INDICATOR SETTINGS FOR STOCHASTIC,EMA ANDRSI FOR 1MIN CHART

RAJASIMHAN

sandew · White Belt Joined: 02 Feb 2009 Posts: 174

avoid 1 minute - plain and simple

NORBE_1958 · White Belt Joined: 11 Feb 2009 Posts: 36

1min not at all , there is no time for action

gokulc · White Belt Joined: 19 May 2008 Posts: 28

Set RSI (14), Stochastics, BollingerBands (20,2) and candles on 1min chart. Set 8 EMA on RSI. On a non-trending day (refer StockTrader's definition of trending day and non-trending day in How to use Nifty level's thread.) when RSI indicates a divergence as against the actual price then wait for its 8EMA to be breached in the same direction. After that wait for stochasitcs to reach over-traded (if you are buying then stochastics need to turn from oversold, that is when it is < 20, upwards).
Another way would be to draw RSI trendlines and breach of trendline would be the first signal to trade. Then wait for Stochastics to charge.
Red hanging man formed completely outside upperBB is a SELL or a blue hammer formed below lowerBB is a BUY. Generally 1 min chart actions need immediate response.
On a trending day, typically RSI divergences will be blatantly negated by forming newer highs/lows. Then it would be safe to trade in the trending direction.
This method is purely for academic interest. Do not trade without using an expert advice.