RSI is a proper indicators for trading.But it not work same time.When it gone30 buy which currency you trade and when it gone 70 sell which currency you trade.
RSI Trading System
RSI is a proper indicators for trading.But it not work same time.When it gone30 buy which currency you trade and when it gone 70 sell which currency you trade.
meaning how, master?Originally Posted by nazrul300
because I've never used this indicator, aka do not understand.
Can you please tell me slowly and in detail, I might add of understanding about the usefulness of RSI in particular and colleagues MT5 forum of course ..
I waiting for?
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it is true that RSi is good but it is not the best of the indicators. the trend you are trading will determine if it will work for you or not. i have used even 20 RSI before for buy position and i lost it gallantly just because i was on the wrong trend.
nothing personal but i did not understand the question asked here !
RSi is reasonably good but i use other indicators as i trust them more
RSI means Refractive Strength Index.
RSI gives news that will market uptrend or downtrend?
Strategy:
RSI>50= Market will be uptrend
RSI<50= Market will be downtrend
RSI is actually nice to support other indicators to determine how far the trend going. This indicator is widely used for medium-term traders and longer term. If the settings can be adjusted to fit and look.
How RSI level for it? 14? 15? 16? . . . . What time frame we use for it? Sometimes the price move in the range of that RSI, but out of analys, pair move don't care how much overbought or oversold, move untill it cannot up or down anymore, then reverse after 'tired'
RSI system is a pattern in which we can read from that point on there is usually a percentage caused between 0-100 if it was at the point 30 the upside potential when in the down position posisi100
actually.. it's not that the indicator doesn't work at some time.. but it's us who do not really understand that indicator's characteristic and the full use of it..
for example of what you are saying above.. actually it's quite dangerous for us to depend on overbought/oversold concept to make an entry.. rather make it as a warning for us to be more alert on any possibility of the turning of the trend...
This is also a indicator which will helps to prove the nature of indicator. This will show wrong signal in most time. We may make use of it in, while market shows reversals for short time. For example, buy on oversold area on overall uptrend and vice verse.
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