An Alternative to Relative Strength Index (RSI)
What is the RSI Precision?
The classic Relative Strength Index (RSI) is one of the most used technical analysis indicators in the world. Actually, RSI is an oscillator that identifies the overbought and oversold levels of any market.
RSI PRECISION is an advanced version of the classic RSI, created by Giorgos Protonotarios. RSI PRECISION is a technical analysis oscillator that identifies market tops/bottoms in any timeframe. The oscillator is very easy to use and enhances RSI readings with periodic market momentum and price volatility.
◙ 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 on TradingView for free: https://www.tradingview.com/script/irWH8Wkm-RSI-PRECISION/
Introduction to Forex Trading
Introduction to Foreign Exchange Trading
Forex or else Foreign Exchange is a global market where two national currencies are traded against its other. These two currencies form an exchange rate and are called a Forex pair. For example, Euro against the US Dollar create the EURUSD, or else the Eurodollar pair.
Exchange rates are the subject of investment and speculation. Apart from central banks, these are the major Forex market participants:
- Commercial and investment banks
- Retail traders (common people) via Forex brokers
- Institutional investors (investment firms, hedge funds, etc.)
- 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.
