RSI on 5 min Timeframe

Trading Systems
1

Hi All

Can anyone let me know what the best RSI amount is for trading the 5 min charts?

Cheers

2

I think that depended on the indicators which you will use with RSI, but i think 14 is good !

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3

There is no “best” amount, you will need to determine this for yourself and your system. But generally I’ve seen people use anything from 7 to 21.

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4

im using it based on support and resistance and candle patterns only - cheers

5

You’d have to play around with it…it could be slightly different on different pairs. Try setting it so that the oscillator’s peaks and valleys matches price peaks & valleys…that was in a book I read called High Probabililty Trading Strategies by Robert Milner.

I also like to overlay 2 oscillators on top of each other with the 2nd one having a longer lookback setting to represent a higher timeframe. Currently on the 5 min I use (6) & (12) for the Demarker indicator. To me when both indicators are in either oversold/overbought area at the same time, it kinda means the 2 timeframes are in sync to go up or down accordingly…in harmony with whatever else you look at to determine direction.

Hope that helps :slight_smile:

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6

I like to slow down all the indicators I use. For RSI I like to double the value to 28 periods. It smoothes it out and gives less but more accurate signals for me. But you really have to play with it yourself on a demo until you are comfortable with it. But BBC generally I slow all my indicators to fit my style.