Advanced RSI IndicatorA 7-period RSI with settings of 10 and 90 works best. The tighter timeframe and thresholds help spot immediate trading opportunities. With settings of 10 and 90 a scalper can: Enter long positions when RSI dips below 1
It can signal when to buy and sell. Traditionally, an RSI reading of 70 or above indicates an overbought condition. A reading of 30 or below indicates an oversold condition. The RSI is one of the most popular technical indicators, and it is generally available on most trading platforms offered by online stock brokers.
