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RE: Lesson # 4 (RSI Indicator & how to use it)
But when you take the 4 hrs chart and use the RSI indicator with your candlelight secret than it takes a long time to see wich candles appear....
But when you take the 4 hrs chart and use the RSI indicator with your candlelight secret than it takes a long time to see wich candles appear....
Dear @buttercups
I use 4hrs , 1 day charts for more accurate signals.
Wait for first candle to close then enter on second one.
You say: A trader might buy when the RSI crosses above the oversold line (30).
For me to understand you mean you might buy when it is UNDER the oversold line (30) for example 29, 28?
You say: A trader might sell when the RSI crosses below the overbought line (70).
Do you mean ABOVE the overbought line for example 72, 73?
Dear @buttercups
Was my mistake
Now I fixed that.
Below oversold line (30) it’s buy signal with second green candle.
Above overbought line (70) it’s sell signal with
Second red candle.
I saw it happen today :-) I watched the rsi it was around oversold 30 and than 2 green candles and than it went up strong above $ 9100,- and still rising.
It works, really nice to see!
Thank you, you see i pay attention :-)
I really like to learn about the indicators