Tutorial | How To Use RSI To Find Turning Points ... or NOT!
Updated
Hey Speculators - Happy Friday - welcome to another video tutorial, and thanks again to the TradingView Editors for featuring my last post, which I've linked here, and is related to the topic on hand for today. That topic is how, and when, to not fight a trend.
I'd suspect many traders are familiar with the Relative Strength Indicator (RSI), used to measure overbought and oversold conditions. In this video, I discuss what I look for when using RSI to filter trade signals and identify when strong is REALLY strong. The inverse would hold true as well (you know, weak, or really WEAK), but we all know markets never go down. :)
RSI Settings for this video
5 Period
Upper 88
Lower 12
I'd suspect many traders are familiar with the Relative Strength Indicator (RSI), used to measure overbought and oversold conditions. In this video, I discuss what I look for when using RSI to filter trade signals and identify when strong is REALLY strong. The inverse would hold true as well (you know, weak, or really WEAK), but we all know markets never go down. :)
RSI Settings for this video
5 Period
Upper 88
Lower 12
Note
Here is an example of a valid Extreme Turn (RSI >88, ADX >50) signal that failed.
👉 Grab a futures demo account with real time data: tradersdevgroup.com/apex
Use Code: TDGFANATIC for 80% OFF!
✅Let's trade futures live together using the TradingView platform: tradersdevgroup.com/ptr-trial/
Use Code: TDGFANATIC for 80% OFF!
✅Let's trade futures live together using the TradingView platform: tradersdevgroup.com/ptr-trial/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.