Dear Traders, There Is Magic In RSI

Dear Traders, There Is Magic In RSI

RSI is a fascinating and dynamic indicator. Others may consider it a momentum oscillator only, which works more effectively in a range-bound market, but it can give you significant signals even in trending markets. Believe Andrew Cardwell, who has said, ‘I haven’t found anything in over thirty years of work that can hold a candle to what RSI can do.’ Most of the other indicators like moving averages are lagging indicators, as they lack predictive power. On the other hand, RSI is a leading indicator which can give significant clues about future prices, if we have the ability to decode them. RSI is magical, because it can predict prices, because it can tell us where to get in and where to get out. Not a bad idea! If an indicator can tell us all this, don’t you think we should know more about it!