Hi Kareem,
To get a better understanding of using the RSI draw the R/S 80/40 levels in green and the 60/20 levels in red
Another point - regarding divergence
As the RSI is a bound indicator i.e. operates between 0 and 100 and is less responsive at its extremes - sometimes it may miss a divergence
Consider using an unbound oscillator, say the CCI(10). I have both of them on my screens.
Regarding the RSI ON 15MIN CHARTS - I would imagine the "noise" at that level would make any indicator questionable, probably best to use price S/R and price action
Personally anything under the 4 hour chart is not in my cumfort zone - even when I was more active in the market in my younger years.
Another problem with indicators especially when the period used for the calc is small is exceptionally large price moves - the indicator value when this occurs is acceptable - but when this price drops out of the calc, it can give a questionable reading
Well thats me for the day,its nearing bed time here is Aussie land 11.17pm
Have a great day
Peter
To get a better understanding of using the RSI draw the R/S 80/40 levels in green and the 60/20 levels in red
Another point - regarding divergence
As the RSI is a bound indicator i.e. operates between 0 and 100 and is less responsive at its extremes - sometimes it may miss a divergence
Consider using an unbound oscillator, say the CCI(10). I have both of them on my screens.
Regarding the RSI ON 15MIN CHARTS - I would imagine the "noise" at that level would make any indicator questionable, probably best to use price S/R and price action
Personally anything under the 4 hour chart is not in my cumfort zone - even when I was more active in the market in my younger years.
Another problem with indicators especially when the period used for the calc is small is exceptionally large price moves - the indicator value when this occurs is acceptable - but when this price drops out of the calc, it can give a questionable reading
Well thats me for the day,its nearing bed time here is Aussie land 11.17pm
Have a great day
Peter