What RSI settings should I use for a 1-minute chart to identify overbought and oversold conditions in cryptocurrencies?

3 answers

• Feb 18, 2022 · 3 years ago
  When it comes to using the RSI indicator on a 1-minute chart for cryptocurrencies, it's important to find the right balance. Generally, a shorter RSI period, such as 9 or 14, can provide more sensitive and timely signals. However, keep in mind that shorter periods can also generate more false signals. It's recommended to experiment with different settings and observe how the RSI reacts to price movements in different timeframes to find the optimal settings for your trading strategy.
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• Feb 18, 2022 · 3 years ago
  Using the RSI indicator on a 1-minute chart for cryptocurrencies can be tricky. Some traders prefer a longer RSI period, like 21 or 25, to filter out noise and reduce false signals. However, this may result in delayed signals. Ultimately, the best RSI settings depend on your trading style and risk tolerance. It's important to backtest different settings and evaluate their performance before making a decision.
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• Feb 18, 2022 · 3 years ago
  At BYDFi, we recommend using a 14-period RSI on a 1-minute chart for cryptocurrencies. This setting strikes a good balance between sensitivity and reliability. However, it's important to note that the RSI is just one tool among many, and it should be used in conjunction with other indicators and analysis techniques to make informed trading decisions. Remember to always do your own research and consider multiple factors before making any trading decisions.
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