Hi,
I would be grateful if you could advise me what is considered to be the most reliable indicator for overbought and oversold conditions and what parameters to use.
Any help would be great.
An indicator by itself won’t tell you much, a strong trend can continue well in to overbought or oversold territory. Having said that i use the slow stochastic on default settings, with my trading method just to get a better picture. RSI(default) isn’t bad.