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RSI ?

  • #1
  • First Post: Apr 3, 2007 5:25am Apr 3, 2007 5:25am
is it safe to buy a pair when the RSI is above 70 lets say 79.1
thank you for your advice ?
  • #2
  • Apr 3, 2007 5:59am Apr 3, 2007 5:59am
If RSI > 70, the market is considered to be overbought, a selling signal is issued; if RSI < 30, the market is considered to be oversold, a buying signal is issued

But it depends on the TF you use, it might be above 70 on the 30 min, but the 4hr still has room to move and is also in a up movement.
  • #3
  • Apr 3, 2007 6:54am Apr 3, 2007 6:54am
Quoting omaresreb
is it safe to buy a pair when the RSI is above 70 lets say 79.1
thank you for your advice ?
Put this onto your chart and you will find out if you could stay in the trade or get out. Train yourself with the F12 with Mt4 and you can develop a profitable system.
Attached File(s)
File Type: mq4 #MTF_RSI.mq4   4 KB | 573 downloads
  • #4
  • Apr 3, 2007 12:34pm Apr 3, 2007 12:34pm
Highway3000

Thanks for sharing!
  • #5
  • Apr 3, 2007 4:23pm Apr 3, 2007 4:23pm
Quoting Fx1618
If RSI > 70, the market is considered to be overbought, a selling signal is issued; if RSI < 30, the market is considered to be oversold, a buying signal is issued

But it depends on the TF you use, it might be above 70 on the 30 min, but the 4hr still has room to move and is also in a up movement.
No one has mentioned how many time periods they are talking about using with the RS index. So, the question and responses are, so far, meaningless.
  • #6
  • Apr 3, 2007 6:30pm Apr 3, 2007 6:30pm
thanks guys for the info
  • #7
  • Apr 3, 2007 7:21pm Apr 3, 2007 7:21pm
Quoting WHTenn
Highway3000

Thanks for sharing!
Hi WH,

I got it from the wonderful people at TSD. Freely I receive, freely I give out.
Appreciate you gratitude but it ought to go to those guys at TSD.
I will relay your message to them.

Wish you good trading WH.
Highway
  • #8
  • Apr 3, 2007 7:28pm Apr 3, 2007 7:28pm
Quoting TheGreatMilenko
No one has mentioned how many time periods they are talking about using with the RS index. So, the question and responses are, so far, meaningless.
If you are looking at the 15m RSI and it is above, 70 you either stay in your existing trade or you open a long trade IF your higher time frame signals you it is movimg up still. The moment the 15m RSI moves down the 70, it is a POSSIBLE sign to get out. By refering to your RSI in the 30m or 60m, you will probably have a better idea of what MIGHT happen next. MTF indicator makes your task easier by giving you the possibility to have variouzs time frame on the same window
  • #9
  • Apr 4, 2007 3:11am Apr 4, 2007 3:11am
Quoting omaresreb
is it safe to buy a pair when the RSI is above 70 lets say 79.1 thank you for your advice ?
No time frame… just a Q on how the RSI works.

Quoting TheGreatMilenko
No one has mentioned how many time periods they are talking about using with the RS index. So, the question and responses are, so far, meaningless.
I think I must use some of my profits I gained in using MTF to obtain a soft skills course in diplomacy.

Quoting highway3000
By refering to your RSI in the 30m or 60m, you will probably have a better idea of what MIGHT happen next.
and thanx Hibbiz I stole your indicator as well and put it in the fx-safe

Or maybe spelling as the title should have been “Mentioned”
  • #10
  • Edited 3:59pm Apr 5, 2007 3:37pm | Edited 3:59pm
Quoting Fx1618
No time frame… just a Q on how the RSI works.



I think I must use some of my profits I gained in using MTF to obtain a soft skills course in diplomacy.



and thanx Hibbiz I stole your indicator as well and put it in the fx-safe

Or maybe spelling as the title should have been “Mentioned”
I think there may have been a misunderstanding here. If you quote a relative strength index value of 79.1, this is meaningless unless you identify how many time periods you used to get the value of 79.1. ie you can use different numbers of bars/ candles to calculate the rsi. Using say 20 bars/candles will get you a different rsi value to using say 10 bars/candles. So, rsi 20= 79.1 is NOT the same as rsi 10 = 79.1. This will apply to all time FRAMES(different to NUMBER of time PERIODS)
Now are you starting to understand?
  • #11
  • Apr 6, 2007 3:33am Apr 6, 2007 3:33am
tx for clearing this up, it was a misunderstanding then.

If I'm correct then. RSI in different TF or bar periods give different values.

Using a Larger TF to fillter wil live better signals?
  • #12
  • Last Post: Oct 5, 2014 11:00am Oct 5, 2014 11:00am
if you want to be a good trader use leading indicators like price, support and resistance etc donot use lagging indicators like sma(s) or macd or those others indicator
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