Which is the best indicator for intraday?

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Stock market trading relies on analysing different charts and making decisions based on patterns and indicators. Irrespective of the fact that the trader is a novice or experienced, indicators play a crucial role in equity or intraday trading.

The stock market is dynamic, involves current affairs, and the concurrent events also heavily influence the market conditions. The indicators offer useful information, such as market trends and maximise your returns.

One of the useful tips for doing day trading is following the indicators. Intraday indicators are overlays of charts which offer crucial information through mathematical calculations. As the name suggests, the indicators suggest where the price will go next.

• Moving averages: It offers information about the momentum of the market, the trends, reversal trends, and stop-loss points.
• Bollinger Bands: It shows the volatility in the market. The stock price moves between the upper and lower band.
• Relative Strength Index: It acts like a momentum indicator and a signal ranging between 0 to 100, which shows the stocks overbought or oversold.
• Commodity Channel Index: It identifies new trends in the market. The value is 0, +100, and -100. If the value is positive, it shows an uptrend. If negative, the market is down trending.

There is no magic indicator. You need to find your own thing

the best indicators for intraday trading that you might consider using for some excellent share trading tips.
1. Moving Averages
Moving averages is one of the most commonly used intraday trading indicators amongst intraday traders. In this method, the average closing rates are placed on a line on the stock chart over a specific period. Usually, the longer the period of the stock movement, the more reliable is the moving averages.
Bollinger Bands
Bollinger Bands are an advancement to moving averages. In this method, the average closing rates, an upper limit and a lower limit are placed on 3 different lines on the stock chart over a specific period.
Momentum Oscillators
Since the stock market is very volatile, the prices constantly move up and down. There are instances when the stock market experiences a short-period cycle, in spite of the market not being bearish or bullish.
Relative Strength Index (RSI)
A trader uses the RSI indicator when he/she wants to compare the share price’s gains and losses. This information is then tabulated in an index form, with the RSI score ranging from 0 to 100.