RSI TC indicator is a forex trading indicator. It is a very simple forex trading indicator. It is an oscillator based trading indicator. The RSI TC indicator is a very reliable trading indicator and this trading indicator is well tested in the live data and generated very impressive results. If you are able to maintain high level of discipline you can make money as well by using this trading indicator. Without discipline nothing works in forex market and no any trading indicators or any trading systems will work for you. RSI TC indicator is best when you use it in a trending market environment.
When RSI TC indicator is correctly installed in your trading platform, your chart should look like this:
- RSI TC indicator
RSI TC indicator consists of an oscillator that fluctuates in the range of 34 to 74. When the oscillator is above the level of 50, it’s green and when the oscillator is below the level of 50, it’s red. Therefore, you should be buying only when this oscillator is green and you should sell only when this indicator is red.
Buying Conditions Using RSI TC indicator.
- Market should be up trending.
- The oscillator should cross above the level of 50.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the oscillator comes below the level of 50.
Selling Conditions Using RSI TC indicator.
- Market should be down trending.
- The oscillator should cross below the level of 50.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the oscillator comes above the level of 50.
Download Free Forex RSI TC indicator
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