Help ! I use RSI, Stochastic and Bollinger bands as indicators. My problem is that if I set my chart’s time scale to 1 min I might get a very clear SELL signal, but the same currency pair with the same indicators may give a BUY signal if I change the time scale to 5 mins. How do I wrap my head around this ?
I find many of the indicators pretty patchy on the 1 minute chart, as it is by definition more volatile. I finesse my entry on the 5 minute chart having determined trend and setup on higher timeframes. So if you have the 5 minute chart agreeing with higher timeframes I would disregard the 1 minute chart altogether. If you don’t have agreement then I would suggest that there is no setup. But obviously this is coloured by my preferred style, you will find shades of opinion on this. But I thought it better to give my opinion rather than just say ‘experience, experience, experience’!