RSIWise is a very effective and easy to use service to keep track of daily changes to prices and RSI for stocks and cryptos in your watchlist.

Many of us are not an active traders and have a full time job. But we understand the basics on investing or trading. And we know that RSI is one of the key indicators to track for trading stocks or crypto. So anyone who has a watchlist with a bunch of stocks or crypto will find the RSIWise service invaluable.

Most of the non-day traders often look to invest based on recommendations. And typically prefer to use self-services like Robinhood to buy a stocks. One common challenge that we all face is that we are unable to spend time everyday doing the necessary analysis. It is indeed very time consuming activity to keep track for all the tickers in the watchlist. And more difficult to check their daily performance which is necessary before buying or selling any stock.

Consider this scenario. Say Motley Fool or Zacks made a recommendation on a stock for a company that you are convinced is worth to invest in. On that day, if its RSI was tracking low, then it would suggest it is probably a good time to buy. If the RSI were very high when you got a recommendation to sell, then it would indicate that the stock has been over brought. And so the price for that stock may drop in the near term, so maybe its worthwhile to wait before buying it.

Whether such stock advisory recommendations are worth while to consider is another issue. So it is best to left for every individual to decide.

Why track RSI indicator for stocks and crypto?

For those who are just beginning to start investing in stocks, it is pretty overwhelming to login to one of those zillions of free finance stocks analysis portals, like Yahoo Finance, or Stock Charts, et al. for doing any analysis. And look at all the indicators and data points (most of which you don’t fully understand) and try to make sense of any is even more difficult. However, one of the indicators that does stand out is the RSI – Relative Strength Index.

What RSI tells is whether a symbol (stock or crypto) has been oversold or overbought. For someone new to trading, this sound a bit confusing. Simple put the value for RSI for any stock fluctuates in a band between 0 and 100. The stock price often starts going up or down after the down or up peaks in the RSI charts. Here is a good article for further reading.

So when RSI is lower (say lesser than 30) its often a good indicator that the price of the stock may start going up. And so it probably could be a good time to buy that stock. The reverse happen when the RSI reaches a higher value (say higher than 75), it probably indicates the price for that stock or crypto may drop in the near term. And so, if you have been thinking of selling a stock, then it may be a good time to do so.

It is never recommended to make any decision solely by looking at the RSI for a symbol. But tracking the RSI value is a good indicator to suggest which symbols should be explored further. There are tons or resource that suggest how to adopt a trading strategy using RSI.

How RSIWise can help track RSI

Now, where the problem arises for many like me is that we often get busy during the work day. It becomes almost impossible to track RSI for all the stocks and crypto in the watchlist everyday. With a day job, it is difficult to find time to login to portals like Trading View everyday and track the RSI movements for each and every symbol.

What is worse is to realize that a particular ticker that you were tracking had dropped or met your RSI threshold. And since you did not get time to track its RSI, you missed on the opportunity.

So the best way to track RSI for stocks and crypto in your watchlist is to setup a watchlist on RSIWise.com. RSIWise sends a daily update with a nice color coded list of RSI’ for all ticker symbols in our watchlist. This helps save considerable time and jump start the analysis by helping focus only on those particular stocks with high or low RSI. This helps save a lot of time by not requiring to track the RSI for all the 10s of tickers in the watchlist, every day, one at a time, only to see the RSI in one of the inconsequential bands [meaning any stock with RSI between 40 to 60 is in that band].

So, the next time you are setting yourselves a watchlist, subscribe to the RSIWise service, and start tracking the RSI for the entire watchlist.