RSI: Is it any good?

NYSE:OIS   Oil States International, Inc
RSI is the most popular indicator, according to TradingView. So why does it test like garbage?

I show you backtest results using several RSI strategies:
  • Crossunder from overbought/crossover from oversold (the default RSI strategy provided by TradingView and suggested by Wilder)
  • RSI + EMA 200: is RSI profitable with the trend?
  • RSI + ADX: is RSI profitable in sideways markets?
  • RSI + Divergences: can RSI with divergences find turning points in the market?

EMA fun fact: we use EMA's today because the previous generations of traders didn't even have calculators. EMA's aren't any better than other moving averages, but they are much easier to calculate by hand.

Questions/comments welcome.
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