Hello and welcome, this is AngelouHD and this is my oscillator based on 14 (classic and most used by all traders).
I was studying and found out that this awesome tool is very helpful, so I did more research and added some features which includes:
1 LONG signal which is that bold green pattern on the (white).
2 SHORT signal which is that bold green pattern on the (white).
3 Supports and resistances in most common areas such: 100, 90, 80, 70, 66, 50, 34, 30, 20, 10 and 0.
* 100, 90, 80, 70 and 66 (most of the times, my studies showed that most traders are likely to TAKE PROFITS and SELL/GO SHORT.
I found out that 100 is a must, must SELL and TAKE PROFITS (overbought).
* 50 RSI is also good zone for ENTRY and BUY/GO LONG only in very market, you got to be very carefull on this, so first study the market conditions: BTC , book orders looking , coins @ good lines, etc. If none of the previous conditions, then don't trade and wait for lower levels.
* 34, 30, 20, 10 and 0 RSI most of the times, my studies showed that most traders are likely to ENTRY and BUY/GO LONG.
I found out that 0 is a must, must BUY and TAKE ACTION (oversold).
All this is just my studies and my opinion, not a finantial advice. Not always will work the way I'm explaining since this Crypto World is full of manipulation, so please take note.
LAST THING: Search on youtube and do your own research about "RSI divergences" and you will understand why sometimes even if is high (overbought), let's say 70 ... your coin continue to go up and up and then goes below 60 and that coin continues to go upbullish.
And viceversa sometimes you see is very low (oversold) et's say 20 ... your coin continue to go down and down and then goes above 30 and that coin continues to go .
I wish you the best and I hope you take advantage, stay profitable, be careful but take action, no fear. Jesus Christ bless you all!
One advice for trading with RSI is: try to join @ 30 or below 30 but wait a little bit for confirmation, I mean, sometimes you can see RSI is very low but since it's manipulated you better wait a little bit and join.
RSI below 30 indicates me that sometime, sooner or later this coin will bounce.
RSI above 70 indicates me that sometime, sooner or later this coin will retrace.
Be smart, patient and always look BOOK ORDERS <-- most important.
Have a Nice Day