OBVIOUSLY NOT A PROFESSIONAL The green triangles are where I anticipate feeling comfortable buying, the red triangles where I anticipate feeling comfortable selling. The red parallelogram is where I'd tap out to fiat (god I hope not).
The orange triangle is Charlie "I cut the brakes, bitches" Wildcard territory.
RSI values overlapping the green triangle in oversold territory represents "good buy" territory, the white triangles are "great buy" territory.
The lines down there are speculative as I try to figure out what a market "breathing" looks like.
This is for me. Do your own analysis, take your own advice.
@jjaskulowski, Are you asking conceptually or specifically? I have it set at 18 but I don't follow that strictly. (Still learning to fight the FUD)
jjaskulowski
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@klanedroid, I'm asking because you have stats for signal RsiLE and I could not find it in strategy repository on tradingview.
klanedroid
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@jjaskulowski, the regular RSI Strategy shows Long entry buy signals in blue and short entry sell signals in red. I think the defaults are at 20 for RsiLE and 80 for RsiSE, and I changed mine to 18.
This metric can be used at different timeframes to show different degrees of volatility. RSI of 18 on a 5 minute timeframe isn't terribly "overbought" for a long-term hodler. RSI of 18 for a week would not be a fun position to find yourself in, but that level and duration of "overbought" COULD be a decent "sale price" of an asset you believe in.
I'm NOT a professional, and this is not advice. While this is all anecdotal, I do enjoy learning more about this as I go.
If you have any further questions, or if I've misunderstood you and can try again, hit me up!