02-16-2014, 08:18 PM
(02-16-2014, 07:36 PM)Dexter Wrote: I still use the RSI with weekly/monthly charts but it is not the sole deciding factor for me when it comes time to make an investment. In fact, it is usually the only indicator I use when looking at charts.
Yes it is very reliable but things can stay overbought and oversold for a very long time.
Is that like saying it's right except when it's wrong?
RSI does not work to indicate what future prices will do. It can tell what past prices have done but that is clear on the charts already.
I have not seen any study or backtest that indicates otherwise regarding RSI or any other oscillator indicator.