Relative Strength Index / RSI (14)
This is one of my important indicators for predict for movement.
I just use it at my MT4 ( I use demo Interbank MT4).
At my MT4 I just draw line in RSI indictor’s window (or add level at 25, 50, 75)
My important level for take position is level 50. (in TF M30)
IF RSI indicators cross above level 50, and next bar, RSI still above 50, I will take buy position. And for support my position I use TF H1. If at TF H1, RSI14 also above level 50, it still hold my Buy position.
If at TFM30, RSI14 cross down level 50, but at TF H1 still above level 50, I will hold my long position. IF RSI 14 at TF M30 reach level 75, I will closed my buy position.
For Sell position is same if RSI14 cross down level 50.
This is only my opinion, If it’s still wrong or not really right, may someone correct it.
Incoming search terms for the article:
relative strength index for m30
Posted in: custom indicators
