On the chart below,when I used the combination of the two indicators,indicator level for overbought condition with RSI is above 70 while on Stochastic Indicator it is above 80 as explained in the lesson sessions.is it advisable to adjust the mark on the RSI to above 80 so that I will be able to use both indicators for comparison when trading since the RSI can be used to indicate trend formation but the Stochastic Indicator can not or should I stick to using just one of them?
So, are you going to build your trading system only based these 2 indicators? What’s your opinion about fundamental analysis?
I ddint say so.I will still have to take into consideration fundamental and sentimental analysis.I jsut asked if i could use a combination of these two on the aspect of technical analysis
There is no problem with using both of them but you might want to try something first. If you identify whatever your entry criteria is using these indicators and then remove them and look only at the exact same price action you might discover something very interesting.
Alright.Thanks for the answers.