What is RSI.?
The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100. The indicator was originally developed by J. Welles Wilder in 1978.. if you need to know more Click here..
For this Strategy What you need – Relative strength index (RSI )
ADD RSI Period 7 and Period 14 and wait for it to overboard or oversold..
When RSI 7 and cross lower line it means oversold, then you can start a BUY trade.. Take Expiry between 5 Min to 10 Min..
When It shows it has crossed upper line You can start a SELL trade.. take Expiry between 5 min to 10 min..