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  1. #1
    Legendry Member Okane's Avatar

    ok icon Trade Support & Resistance Areas With Stochastic RSI !!!

    Overbought or Oversold? The Stochastic RSI knows! Two powerful tools are combined into one, creating an even stronger indicator.
    While RSI and Stochastic are measured via asset price, the Stochastic RSI is derived from RSI values and acts even faster.
    Find out where the next support or resistance will be, trade off of overbought and oversold levels and identify the direction of the trend.

    This indicator is recommended for experts and you can read more about it in this article written by Michael Hodges:
    Link: When Two Worlds Collide. Stochastic RSI for Binary Options

  2. #2
    Senior Member grindtime's Avatar
    Is Stoch RSI OB/OS levels 80 & 20 just like normal Stoch

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by grindtime View Post
    Is Stoch RSI OB/OS levels 80 & 20 just like normal Stoch
    Yeah, it is the exact same stochastic, just using RSI readings for the data instead of price action. It's like a double filter.

  4. #4
    Moderator Kolyo's Avatar
    Quote Originally Posted by Michael Hodges View Post
    Yeah, it is the exact same stochastic, just using RSI readings for the data instead of price action. It's like a double filter.
    I agree on that Michael, simply an RSI filter is added. Actually this is one of my favorite pair of indicators for my setups. It works greatly and generate clear signals.

  5. #5
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Kolyo View Post
    I agree on that Michael, simply an RSI filter is added. Actually this is one of my favorite pair of indicators for my setups. It works greatly and generate clear signals.
    I haven't added it to my kit, I use the reg stoch and MACD, but I really really liked the way it presented and think any newbie could use it with ease and success,

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