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Re: RSI Indicators for MT4

josi, Tue Feb 21, 2023 8:34 pm

Jimmy wrote: Tue Feb 21, 2023 8:10 pm Rocktheedge
Of course; I am not Rocktheedge and don't know what his trading approach will be...
As a (fundamental) disbeliever in overbought and oversold, however, I'd say:
above or below 50 is a good approach.
bias: you have lower lows and lower highs
entry: whenever RSI is below 50 and candle (crosses and then) closes below EMA20 you sell
when RSI shows divergence (to the upside), you're out [won't make you rich - better refine your exits!]

For buys: turn the approach around
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