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    Thread: RSI indicator strategy

    1. #11
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      too many false signal. remember, do not depends on indicator. it is only an indicator afterall, just a tool for confirmation. always look for PA first then confirm with indicator.


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      wow very good strategy but dear i am not know how can i adjust this system and install it and that is why please tell me how can i install this system and show by charts when we should buy or when sell.


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      You are right RSI works well when confirm b other indicators like bollinger band and MACD etc. But one thing is important the choice of currency pair is also very sensitive . If you look at NZDJPY this strategy still will not work. So every pair has its own limitations and should be dealt accordingly. thanks for your usefull post


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      Advantages of RSI: This indicator should be coupled with other indicators and allows for good entry points; Lines of trends in this indicator of the second method may be used alone; Gives very good results if the market is trend.
      Disadvantages of RSI: The indicator can evolve into a long-time area overbought or oversold; The number of signals is small; There is no exit area of trade advised, the indicator should be monitored frequently enough.


    5. #15
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      Quote Originally Posted by jg6073727     
      RSI is very good indicator. It tells us wbout over bought and over sold conditions. By knowing the overbought and oversold conditions we and open a position or exit the matket
      I never use the RSI indicator, but not good enough, and until now I only use the MA indicator and more simple, although often get false signals but still I use because it can produce


    6. #16
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      RSI is a good indicator for understanding the market movements and take the decesion for making order, generally for 70 crosing or above we can sell or 30 we can make buy, it cause some good effects sometime


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      can you also combine fibonacci to your trade of RSI and MACD will give you the desire result you need to move ahead in forex


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      Yes rsi is a very powerful indicator. But I think this indicator along can do nothing I use the stochastic oscillator with this to get a filtered signal. And I make good profits.


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      Quote Originally Posted by GetRichInForex     
      RSI indicator will not work well if you use it alone. You must use it combine other indicator as MACD,Everage....
      You setup RSI:
      Buy when the RSI crossed 30 and crossed back up 30, at botton
      Sell when the RSI crossed 70 and crossced back up 70, at peak
      You are right. RSI indicator is good for indicating oversold and overbought condition but this indicator cannot be used alone. When it cross below 30 ,it indicates oversold condition and may be an opportunity for buyers to make entry and if it cross above 70 ,it indicates overbought condition and may be an opportunity for seller to make entry. Support from other indicator is required to catch the weak signal.


    10. #20
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      Please what are necessary technique to combine with Rsi to put someone in a path of success


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