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RSI (Fast) 30 Crossover Bullish Reversal Strategy
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About Scanner – RSI (Fast) 30 Crossover Bullish Reversal Strategy
This strategy is designed on a daily timeframe to identify bullish reversal stocks showing reversal from oversold zones.
It combines RSI (Fast) strength, price action, and volume confirmation to detect early bullish setups for intraday or short swing opportunities.
Strategy Description:
OHLC Compare: Latest close is above the latest open, indicating bullish price action.
To ensure reliability, it also filters for stocks with current tick volume greater than the 20-tick average volume, indicating buying pressure.
RSI Fast (14) has crossed above 30, signaling a Trend from oversold to bullish territory.
Additionally, Tsr Tech Strength signals the beginning of bullish momentum and trend reversal.
Strategy – Key Points:
- Timeframe: This strategy works best on a Daily & Weekly Tick.
- Suitable for:Swing traders and positional traders.
- Market Direction: Apply when the overall market sentiment is positive. <
- Volume Check: Ensure rising volume trend for genuine buying pressure.
- Stop-Loss: Place just below the Previous Swing low or nearest support level.
- Filter Stocks: Apply this strategy to your favorite stock basket or your watchlist.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.