RSI 90+ on DIA

[Buy1Sell2]

Quote from skippy:

I was being glib. No disrespect intended, either to Mr. Wilder, or to those thousands of accomplished traders who find so much utility in RSI and its ilk. Personally, I find price-based "lower-pane" indicators -- i.e., other than support/resistance, moving averages, etc. -- to be of limited use. A kind of sophistry, to be perfectly honest. Then again, I don't have much of a clue about much of anything.

RSI is one of the most fantastic tools available to the professional trader.

 

[skippy]

Quote from Buy1Sell2:

RSI is one of the most fantastic tools available to the professional trader.

I'd like to know more. Would you care to elaborate? What, in your view, sets RSI apart from "Banded Momentum Oscillator B"?

 

[romik]

Quote from Buy1Sell2:

RSI is one of the most fantastic tools available to the professional trader.

Would you say it does work because many pro traders actually reference it?

Some seem to believe that conventional TA does not work due to mass usage. I can relate to this on intraday basis, especially during lower volume times, but on longer TFs I just can not agree with this, of course everything is relative to actual methodology applied.

 

[Buy1Sell2]

Quote from romik:

Would you say it does work because many pro traders actually reference it?

Some seem to believe that conventional TA does not work due to mass usage. I can relate to this on intraday basis, especially during lower volume times, but on longer TFs I just can not agree with this, of course everything is relative to actual methodology applied.

Absolutely having more people using the TA makes it more effective. For example, when we are near a top, the more people who are using TA for entries and exit who are seeing that will begin selling and prices will be driven down eventually. The general public is still buying at that time. --Thank goodness not everybody is using it, but it's definitely a help that a good number do.

 

[Buy1Sell2]

Quote from skippy:

I'd like to know more. Would you care to elaborate? What, in your view, sets RSI apart from "Banded Momentum Oscillator B"?

I've set out my approach for the RSI through many posts here on ET. The info is here for the taking. The Banded Momentum Oscillator B? I've no idea what that is. Can you provide a link?

 

[skippy]

Quote from Buy1Sell2:

I've set out my approach for the RSI through many posts here on ET. The info is here for the taking. The Banded Momentum Oscillator B? I've no idea what that is. Can you provide a link?

I meant any other banded momentum oscillator -- such as stochastics, %R, etc. In others words, "Brand X."

 

[Buy1Sell2]

Quote from skippy:

I meant any other banded momentum oscillator -- such as stochastics, %R, etc. In others words, "Brand X."

Oh. RSI is most reliable.

 

[romik]

Quote from Buy1Sell2:

Oh. RSI is most reliable.

a combo is more reliable

 

[Buy1Sell2]

Quote from romik:

a combo is more reliable

Romik, you know I use a combo.

 

[romik]

Quote from Buy1Sell2:

Romik, you know I use a combo.

Yes Sir, I do.