Use the RSI Indicator to Build a Killer Day Trading Strategy

One way to measure the market being overbought or oversold is to use momentum indicators. These types of indicators are often used as an essential aspect of a traditional day trading strategy  of buying low and selling high. The Relative Strength Index (RSI) is a technical momentum indicator that is used to compare the size of recent gains against recent losses. It is used to help determine oversold and overbought conditions of a particular asset. Out of all of the indicators, it is generally considered to be the easiest one to understand and use. Essentially, it will measure an oversold or overbought level using a scale ranging from 1 to 100. As an example, should an indicator register a RSI of 18, it means it is tracking data over the last 18 periods. Each period could represent an hour, a day or a week on a chart. Smart investors use commodity trading software programs and other day trading strategy tools combined with the relative strength index to determine the best time to buy
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