⚙️ What is the RSI Precision?

The classic Relative Strength Index (RSI) is one of the most widely used technical analysis indicators worldwide. It is an oscillator that identifies overbought and oversold conditions in any market. RSI PRECISION is an advanced version of the classic RSI, created by George Protonotarios. This technical analysis oscillator detects market tops and bottoms across any timeframe. It is easy to use and enhances traditional RSI readings by incorporating periodic market momentum and price volatility.

◙ Developer: George Protonotarios

◙ Usage: Shows Overbought/Oversold Market Levels

◙ Trading: Any financial market, very useful for highly volatile markets such as Bitcoin and other crypto markets

◙ Standard Settings: 14 Periods or 21 Periods

🔗 Add RSI PRECISION 3.0 on TradingView (for free): https://www.tradingview.com/script/cTEWnHdU-RSI-PRECISION-v-3

 

ℹ️ Technical Information About the Indicator

RSI PRECISION Can Help traders to:

(i) To make RSI readings more accurate, especially as concerns on large timeframes

(ii) Show overbought/oversold market conditions

(iii) Show market momentum

(iv) Identify tops/bottoms with accuracy

Market Conditions for RSI PRECISION

■ RSI 80+ Overbought (can go higher than 100)

■ RSI 20- Oversold (can go lower than 0)

🏦 Introduction to Foreign Exchange Trading

Forex, or Foreign Exchange, is a global market where two national currencies are traded against each other. These two currencies form an exchange rate and are known as a Forex pair. For example, the Euro against the US Dollar creates the EURUSD pair, also called the Eurodollar pair.

Forex is an OTC market where two national currencies are traded against its other...

 

ℹ️ General Information about Forex Trading

Exchange rates are the focus of investment and speculation. Besides central banks, the major participants in the Forex market include:

  1. Commercial and investment banks
  2. Retail traders (common people) via Forex brokers
  3. Institutional investors (investment firms, hedge funds, etc.)
  4. Trade companies (importers/exporters) and other companies that are exposed to currency risk

🕒 The Foreign Exchange market operates 24/5, from Monday to Friday.

 

🌍 Where is Forex Market Situated?

Actually, Forex has no center, it operates as a decentralized electronic network, almost the same way as the World Wide Web. Every buy/sell order is executed according to demand and supply. This electronic infrastructure is called the ECN network (Electronic Communication Network) of Banks.

🔗 Read More: What is Forex?

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