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How to trade the markets using free Yahoo Finance charts?


This is an old article I wrote on my blogspot in 2009. I think we can rewrite it in today's context. In my trading career I have come across many expensive and free charting software and websites. As technology advances, the list becomes endless: metastockAmibrook, Advanced accessBut maybe we traders are overlooking hidden free gems like Yahoo Finance charts. Thanks to Yahoo, we Indians have access to absolutely instant trading charts of the markets, especially our indices from Yahoo Finance, absolutely free of charge. You can get real-time Nifty charts from Yahoo Finance that update automatically.

A step-by-step guide to trading the markets using Yahoo Finance charts

First, open the Yahoo Finance website.

Secondly, search for Nifty 50 in the search box.

market transaction

This will open Nifty 50 details. Select now chart options.

market transaction

This will open the Nifty 50 chart on the page. By default this is a line chart, Convert it to a candlestick Chart to get a better view. Also, open the 5-minute chart for day trading.

Trade the markets with Yahoo Finance

Triple EMA Trading System for Market Trading

I repeat, even a newbie can successfully trade Nifty future using this chart. But how? The rules are simple again. We will add 3 more moving average, 3-minute EMA, 13-minute EMA and 34-minute EMA on the chart. You can do this from the Metrics section.

index

Let's keep all moving averages in black.

exponential moving average

The final trading system is shown below.

Trade the markets using Yahoo Finance charts

let's add relative strength index and Stochastic to the same chart.

Buy Nifty when the 3-minute EMA is above the 13-minute EMA and the 13-minute EMA is also above the 34-minute EMA. Confirmation that both RSI and Stochastic are in an uptrend and have not yet reached the overbought zone of 80.

Sell ​​Nifty when the 3-minute EMA is below the 13-minute EMA and the 13-minute EMA is also below the 34-minute EMA. Confirmation that both RSI and Stochastic are in a downtrend and have not yet reached the oversold zone of 20.

Now let’s see how you can earn nearly 280 pips in Nifty today, March 13, 2023, by trading free Yahoo charts. i know one Pictures are worth a thousand wordsso I've attached a picture of today's transaction.

Yahoo Finance Charts

If you see the RSI indicator hitting extremes, you can book profits.

Yahoo Finance Charts

Therefore, I discussed the EMA crossover technique. This time I will discuss the stochastic RSI prediction system.

Stochastic RSI Trading System with Yahoo Finance Charts

Let me tell you how to get 265 pips in Bank Nifty trading using Yahoo Charts. The rules are simple too: just follow the automatic signals.

Buy Bank Nifty when the Stochastic crosses the black line across the red line and confirms the formation of a full green candle above the 3, 13 and 34 EMA lines. The short bank was very nice when the Stochastic crossed the red line across the black line and confirmed the formation of a full red candle below all 3, 13 and 34 EMA lines. Exit standard RSI reaches overbought or oversold areas or Stochastic starts to improve. Additionally, sometimes the automated signal will tell you not to short at all, and sometimes it will tell you not to buy at all. Today's trades are represented graphically.

Yahoo Finance Charts

in conclusion

All in all, using free Yahoo Finance charts is a valuable tool for traders in the Indian markets. By implementing simple trading systems such as Triple EMA or Stochastics-RSI, traders can effectively place profitable trades in indices such as Nifty and Bank Nifty. By following the rules and signals provided by these systems, traders can target important points in market trends. Even novice traders can benefit from the accessibility and ease of use of Yahoo Finance charts real-time data and make informed trading decisions. So next time you're looking for a charting tool, don't overlook Yahoo Finance's hidden gems.

You are welcome to comment on this matter to take the discussion to the next level.



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