How it works ?
We are tracking 300 coins from Binance across 8 timeframes that translates into 2400 charts and analyze RSI levels in real time (there may be a 5-7 minutes lag sometimes)
What is RSI ?
Relative Strength Index
The relative strength index (RSI) is a technical indicator used in the analysis of financial markets. It is intended to chart the current and historical strength or weakness of the asset based on the closing prices of a recent trading period.
The RSI is most typically used on a 14-day timeframe, measured on a scale from 0 to 100, with high and low levels marked at 70 and 30, respectively. Shorter or longer timeframes are used for alternately shorter or longer outlooks. More extreme high and low levels—80 and 20, or 90 and 10—occur less frequently but indicate stronger momentum.
So in nutshell, any value below 30 is considered oversold and values above 70 is considered over bought. That means an asset is oversold or overbought & trend Reversal is around the corner. However that’s just a theory and not a norm. An asset can remain over sold or over bought for far longer and therefore using RSI on a standalone basis is not advisable. Like any other TA Tools, use RSI to identify interesting charts and apply other tools to identify potential trade setups.
Some day trades master RSI Techniques and exclusively trade trend reversals and make a living out of it. We will show you some RSI tricks in our upcoming webinar on how to use RSI effectively & maximize your returns. We will announce the webinar dates soon.
Here is a guide on how to use RSI Scanner
We have also added watchlist. Now you can save your favorite coins and quickly watch them across all modules.
Why Trading Room is developing these tools?
The main reason behind the development of these tools is to help you save time and efficiently make your trading decisions. Anyone who can spend one hour a day can trade and make money by learning some simple techniques. We want you to stop wasting time in front of computer screen trying to find trade setups. We will introduce more exchanges once we roll out all of our TA tools.
Coming up next:
- Liquidity Index
- Live Support & Resistance Levels
- MA Crossovers
- MA Distance Tracker
- And lot more