Banzai wrote: Mon Jun 27, 2022 4:49 am

RSI Peaks and Troughs

Use this template to see the overbought and oversold areas.


The image above shows the RSI clearly breaking above the 70 level resulting in an overbought reading.
But a seasoned trader will not look to immediately sell because there is uncertainty as to how far price could continue to rally.
Traders ideally will wait until the RSI falls back below 70 and then place a short trade.
This gives a better entry and a higher probability trade.
When the RSI falls below 30, same rules apply.
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Download:

Color RSI (arrows alerts) ahtf.mq4