Well,is it ?
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Consecutive candles indi combined with volume & spread indi 13 replies
DislikedIts really a matter of opinion. You have to look at how RSI is calculated then decide if that type of calculation fits with your trading. All oscillators use a slightly different calculation but the vast majority compare the current close with the close of x days (or bars) ago.
I personally like a slow stochastic set at 14,3,3. But it really doesn't matter.
If YOU think it is the best then...its the best...for you.Ignored
DislikedI like RSI. It can work fairly well in ranging markets. I also use it for divergence. But like all indicators, it is not to be relied on solely.
Here's a good example of when RSI failed miserably in a strong trend. RSI went into oversold territory around the 83.00 level on 4 hour A/J chart. It eased a little and then never looked back. The pair rallied another 400 odd pips.
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