RSI or Stoch RSI?


#1

I’ve heard Peter talk about RSI being one of the most profitable indicatiors of whether to buy or take profit…

I’ve also seen standard 14 day RSI and STOCK RSI - which seem to be RSI on steroids - I’ve also seen a lot of guys do TA using STOCH RSI

what I’ve read is that the Stoch RSI is an indicator of the RSI and as such, may not be as reliable - personally I’d rather use RSI myself BUT I’d like to know what other people here do…

Thanks!
RB


#2

Try using a few different indicators not just one, use them in conjunction with major trend lines,pivot points etc.this should help give you lares of confirmation. Also look at different time frames using daily to see the bigger moves then go down to 4hr/1hr for better entry points.

As for exiting a trade I find a crossover of the k~d lines of a 14,3,1 stochastic above the 80 line to work pretty well. My only issue with it is you might miss out on bigger moves but this should still help you take profits off the table before a potential move back down.