Re: Help needed to understand the RSI
Posted:
Fri Jul 03, 2009 12:44 pmby User
Forum transfer: Submitted by User on April 26, 2009 - 12:09.
i am newbie,Pls correct my understanding, is there any convention RSI(7) --> 7 Mins chart RSI-3 --> H1/d1 ?
on what basis i should set my Time period ?
Re: Help needed to understand the RSI
Posted:
Fri Jul 03, 2009 12:44 pmby Edward Revy
Forum transfer: Submitted by Edward Revy on May 2, 2009 - 15:38.
There in no unified way of selecting time frames and corresponding settings for your indicators. Your choice should only be defined by your own feeling and perception of the price and its interpretation by various indicators.
E.g. on a daily time frame you can trade well with RSI 3 as well as with RSI 7 or RSI 20. Everything will depend on how you look at the indicator, how you understand its signals and whether it makes any sense to you after all.
Regards,
Edward