You must pair them with some other indicators. Which one? That`s your personal preference.I feel that all the indicators for overbought/oversold work pretty much the same way. I think that the question is how you use their signals in your trading in order to get profits.
Well, Forex trading isn’t any easy way of money making! And there is no way to make consistent money here by using any technical tool! Of course, default trading tools are important; but you can’t rely on only the trading tools! I basically use my Price Action knowledge to understand the supply/demand correlation!Which is the best indicator to determine oversold and overbought levels.
Yes, there are some indicator oscillators but RSI is the most popular, compared to the stochastic, far different signal given, stochastic more active than RSI to reach overbought and oversold levels.the relative strength index (RSI) is a popular indicator
But both can`t be used as a single signal trigger.Yes, there are some indicator oscillators but RSI is the most popular, compared to the stochastic, far different signal given, stochastic more active than RSI to reach overbought and oversold levels.
Usually, traders use RSI combined with another indicator like trend following indicator such as Moving average crossover.But both can`t be used as a single signal trigger.