Here's an example where the system did produce an aligned signal with RSI oversold when price hit the green line.
So I place my fibs from the high of the week, 100%, to the point where the price hits the green line 0%.
I have the RSI signal at point of contact with green line so I place my buy order.
Since I am buying from the 0% line in this case, I put my SL at 50% of the way down to the first fibo extension level, the -34%.
Once the price hits the next level, in this case 19.1% fibo, I place my SL to BE.
In this case, you can see that price did come back and stop the order out at BE.
Later in the week, it hit the -34.09% extension target. There was no Oversold signal at the time. There was however a bullish divergence signal. This I can use instead of an Oversold signal.
Regular Bullish Divergence:
When price is making a lower low, but the RSI higher low.
So hitting my extension level plus the RSI divergence sign, was my signal to go long.
Again in this case, I placed my SL behind the next lower extension level, the -55%, and when price hit the next higher level the 0% fibo, placed my SL to BE.
So I place my fibs from the high of the week, 100%, to the point where the price hits the green line 0%.
I have the RSI signal at point of contact with green line so I place my buy order.
Since I am buying from the 0% line in this case, I put my SL at 50% of the way down to the first fibo extension level, the -34%.
Once the price hits the next level, in this case 19.1% fibo, I place my SL to BE.
In this case, you can see that price did come back and stop the order out at BE.
Later in the week, it hit the -34.09% extension target. There was no Oversold signal at the time. There was however a bullish divergence signal. This I can use instead of an Oversold signal.
Regular Bullish Divergence:
When price is making a lower low, but the RSI higher low.
So hitting my extension level plus the RSI divergence sign, was my signal to go long.
Again in this case, I placed my SL behind the next lower extension level, the -55%, and when price hit the next higher level the 0% fibo, placed my SL to BE.