Hi !
In the school of pipsology, you have taught us the use of RSI regarding its value : over/under 50, and in or out of the oversold/overbought territories, but what about its slope ?
I have noticed that if I enter a trade with the RSI showing the same slope (ascending or descending) in both the 60 minutes, 15 minutes and 5 minutes charts, and then on the 1 minute chart I try to enter in a trough for a long trade or on a peak for a short trade, I had very few chances to fail, at least on the most common currency pairs.
I have made it my number 1 signal to enter a trade, disregarding that the value is under or over 50. Of course, number 1 doesn’t mean ignoring the overall context (trend, candle signals, etc.).
I find this entry signal especially efficient to catch the beginning of a new short-term trend, when the RSI is exiting the overbought or oversold territory.
What would you say yourself about your preference ? Value or slope ? Maybe the value is better for long-term trends ? I must say that my trades last about 1 hour as an average.