Steve or Matt, newb question...regarding the RSI 5 and RSI 14,
do you give more weight over to one of them when looking at a 5m or
15m chart as opposed to a daily/weekly? Thanks!
not really, I mean a 14 RSI is much harder to get oversold etc,
so on a weekly and monthly I look at the 5 RSI a lot more and it
shows divergence better. But otherwise I use them both.
on a monthly chart on SPX, RSI has only been below 30
something like 8 times in 100 years on the Dow, so big picture
that's one reason I monitor a monthly SPX chart in very deep bear
markets.
Agree with Matt's comments - additionally the more oscillators
that show divergence the better. Remember divergence ALONE is
simply a warning - PRICE is King
Steve or Matt, newb question...regarding
SPX 60 View
Posted by davidw on 9th of Jan 2019 at 11:04 am
Steve or Matt, newb question...regarding the RSI 5 and RSI 14, do you give more weight over to one of them when looking at a 5m or 15m chart as opposed to a daily/weekly? Thanks!
not really, I mean a
Posted by matt on 9th of Jan 2019 at 11:07 am
not really, I mean a 14 RSI is much harder to get oversold etc, so on a weekly and monthly I look at the 5 RSI a lot more and it shows divergence better. But otherwise I use them both. on a monthly chart on SPX, RSI has only been below 30 something like 8 times in 100 years on the Dow, so big picture that's one reason I monitor a monthly SPX chart in very deep bear markets.
Agree with Matt's comments -
Posted by steve on 9th of Jan 2019 at 11:23 am
Agree with Matt's comments - additionally the more oscillators that show divergence the better. Remember divergence ALONE is simply a warning - PRICE is King
Thanks guys, makes sense
Posted by davidw on 9th of Jan 2019 at 11:54 am
Thanks guys, makes sense