Rsi

Beginner Questions
1

How do you set the permissions on the rsi indicator? Is it more effective over a daily chart, week, monthly ?

Thanks
Robv

2

RSI is a good indicator. Its effectiveness depends on the market condition at the time.

Having said that, it’s well known that the longer the timeframe, the less the chart lies. To answer your question, RSI on a monthly chart is most promising.

But just try it on a timeframe that you’re studying. As with any indicator, you need to combine it with other means to use as a signal.

3

Thank You, I have been using the monthly chart. Any tips on analyzing the one hour chart or 15 minute chart? Would 3 or 4 indicators pointing in the same direction be a good start?

4

Price will tell you the direction. It’s my personal belief that one should only use indicators to help confirm what price is telling you. Or use them to help paint a better picture.

5

So true. Price is what matters. Indicators are mere different interpretations of the price. And interpretations are not the real thing.