A slightly altered version of RSI with 3 RSI together
Near rsi
Intermediate rsi
Far rsi
I usually use 10,21 and 3rd rsi as a optional one
When Rsi 10 crosses above Rsi 21 , its buy ( you can use any values but the concept is same) and vice versa
One more major thing which I observed is that the RSI crossover coincides with Trendline breakout most of the times.Sometimes Rsi crossover occurs but there won't be a Trendline breakout, or vice-versa indicates a false signal. You need to sample some trades to understand this behaviour.
You can also draw trendlines over rsi similar to stocks and observe breakouts in rsi .
Cardwell ranges briefly, bullish stocks usually take support at 40 and strongly bullish takes support at 60. Resistance usually 80-85 rsi values
Bearish resistance at 60, strongly bearish at 40 , usually takes support at 20.
Stocks oscillating between rsi 60-40 resistance & support usually in sideways market.
Disclaimer: no indicator works 100%. You have to observe it , backtest and tweek based on your requirements
Update: Added a new fill between rsi 1 & rsi 3
Near rsi
Intermediate rsi
Far rsi
I usually use 10,21 and 3rd rsi as a optional one
When Rsi 10 crosses above Rsi 21 , its buy ( you can use any values but the concept is same) and vice versa
One more major thing which I observed is that the RSI crossover coincides with Trendline breakout most of the times.Sometimes Rsi crossover occurs but there won't be a Trendline breakout, or vice-versa indicates a false signal. You need to sample some trades to understand this behaviour.
You can also draw trendlines over rsi similar to stocks and observe breakouts in rsi .
Cardwell ranges briefly, bullish stocks usually take support at 40 and strongly bullish takes support at 60. Resistance usually 80-85 rsi values
Bearish resistance at 60, strongly bearish at 40 , usually takes support at 20.
Stocks oscillating between rsi 60-40 resistance & support usually in sideways market.
Disclaimer: no indicator works 100%. You have to observe it , backtest and tweek based on your requirements
Update: Added a new fill between rsi 1 & rsi 3
