Hello and welcome, this is AngelouHD and this is my RSI oscillator based on RSI 14 (classic and most used by all traders). I was studying RSI and found out that this awesome tool is very helpful, so I did more research and added some features which includes:
1 LONG signal which is that bold green pattern on the RSI (white). 2 SHORT signal which is that bold green pattern on the RSI (white). 3 Supports and resistances in most common areas such: 100, 90, 80, 70, 66, 50, 34, 30, 20, 10 and 0.
To consider:
* 100, 90, 80, 70 and 66 RSI (most of the times, my studies showed that most traders are likely to TAKE PROFITS and SELL/GO SHORT. I found out that 100 RSI is a must, must SELL and TAKE PROFITS (overbought).
* 50 RSI is also good zone for ENTRY and BUY/GO LONG only in very bullish market, you got to be very carefull on this, so first study the market conditions: BTC bullish, book orders looking bullish, coins @ good support / resistance lines, etc. If none of the previous conditions, then don't trade and wait for lower RSI levels.
* 34, 30, 20, 10 and 0 RSI most of the times, my studies showed that most traders are likely to ENTRY and BUY/GO LONG. I found out that 0 RSI is a must, must BUY and TAKE ACTION (oversold).
All this is just my studies and my opinion, not a finantial advice. Not always will work the way I'm explaining since this Crypto World is full of manipulation, so please take note.
LAST THING: Search on youtube and do your own research about "RSI divergences" and you will understand why sometimes even if RSI is high (overbought), let's say 70 RSI... your coin continue to go up and up and then RSI goes below 60 RSI and that coin continues to go upbullish.
And viceversa sometimes you see RSI is very low (oversold) et's say 20 RSI... your coin continue to go down and down and then RSI goes above 30 RSI and that coin continues to go bearish.
I wish you the best and I hope you take advantage, stay profitable, be careful but take action, no fear. Jesus Christ bless you all!
Hello Which TF works good for this technique and is there any other Rules to Follow while making Trade Entry and Exit using the RSI
AngeloFrankHD
⋅
@Sebastian_Castellanos, Hi Sebastian I personally prefer and use 1 min candle and 15 min candles, but found that almost all TF works good.
One advice for trading with RSI is: try to join @ 30 or below 30 but wait a little bit for confirmation, I mean, sometimes you can see RSI is very low but since it's manipulated you better wait a little bit and join.
RSI below 30 indicates me that sometime, sooner or later this coin will bounce.
RSI above 70 indicates me that sometime, sooner or later this coin will retrace.
Be smart, patient and always look BOOK ORDERS <-- most important.
Sebastian_Castellanos
⋅
@AngeloFrankHD, Thank You Angel Frank i will Test this Technique and will use it after having Confirmation from the Higher Time Frame .
Have a Nice Day