I am Marvo
Is there any website that is good in indicating when a currency is overbought or oversold, please someone should help
Cheers
You usually get an overbought/oversold indicator such as RSI or Stochastic Oscillator when you get onto a trading platform. They actually show which currency pairs are OB/OS, but it comes to the same result.
Don’t depend on OB/OS indicators for entry signals. Be aware that these indicators can get stuck at high/low readings in trends - e.g. in an uptrend, stochastic can get up above 70 or 80 and stay there, apparently saying the pair is overbought, yet the price continues to rise.
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Thanks but I have tried RSI like you said but its not working out so that’s why I needed something different or new…
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Indicators, including on-chart indicators like moving averages, do not give good entry or exit signals. They are good at confirming a set-up or market conditions and the changes in these environments, that’s all.
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I agree with you. But how do I solve this problem of mine
If its a serious problem, something must be going wrong for you again and again. Define and escribe what you are doing and what is going wrong before we get into the detail of solutions.
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Stochastic
There are many different ways you can see if its overbought or oversold. One is RSI and another is Williams %R for either with sentiment. Both can be found on TradingView
Good luck!