Day Trading Indicator Set Up for Beginners 2021 (How to use VWAP, RSI, MACD Indicators)
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Best trading indicators for Day Trading beginners. Here’re the indicator pairs I recommend for trading penny stock breakouts and large caps.
1:41 Using MACD and RSI indicator for trend reversals & finding entries
4:13 Tax breaks & wash sale rule for investor traders
10:00 Why I do NOT rely on indicators when day trading
I do not recommend relying on indicators when day trading. But for day trading beginners who are getting started and new to the stock market, here are some indicator pairs I personally found useful when finding entries and exits in day trading.
1. MACD and RSI indicator pair
MACD is a trend indicator, while RSI tells you the strength or weakness of a stock. MACD tends to be a lagging indicator, while RSI is early.
So when put together, RSI signals potential reversal coming soon, but MACD allows you to stay in the trade until reversal has confirmed. And indicates entries for you to add.
2. VWAP and 9 Exponential moving average pair
VWAP stands for volume weighted average price, it signals the short term sentiment of a stock whether it’s bullish or bearish. When putting VWAP and 9 EMA together, this pair signals a strong breakout in both penny stocks and large caps. 9 EMA acts as potential entry once that breakout as occured.
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