⚙️ 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)

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📈 Harmonic Price Patterns 

Harmonic patterns are formations based on geometry and mathematical fractals. The core concept behind harmonic trading is the primary ratio and its derivatives (1.618, 0.618, etc.). Harmonic patterns serve as strong indicators of potential trend reversals and can be either bullish or bearish.

 

Which are the Basic Harmonic Patterns?

There are six basic harmonic patterns. These formations tend to be more reliable when trading on M30 and higher timeframes. The general win/loss ratio for harmonic trading strategies exceeds 70%.

  1. ABCD Pattern
  2. Three-Drive Pattern
  3. Gartley 222 Pattern
  4. Harmonic Bat Pattern
  5. Harmonic Crab Pattern
  6. Harmonic Butterfly Pattern

This is a combination of Harmonic Butterfly Patterns..

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🗺️ Technical Analysis Map

 

What is Technical Analysis?

Technical Analysis aims to forecast the future price movements of all publicly traded financial assets. This forecasting is based on historical price movements and focuses on two key aspects: (i) the current price and (ii) past price behavior. While technical analysis cannot predict the future with certainty, it can help investors build a probability framework outlining potential future price scenarios. More specifically, technical analysis may:

(1) Help investors optimize their investment decisions by buying oversold assets and selling overbought ones

(2) Assist investors in refining their entry and exit points for each position they open or close

Technical analysis is applicable to all publicly traded financial instruments, including Forex, commodities, stocks, indices, and bonds. When combined with fundamental analysis, it forms a comprehensive approach to investment analysis.

 

Technical Analysis Basics

Technical analysis, based on Dow Theory, consists of two fundamental assumptions:

✅ Price discounts everything

✅ The price movement of publicly traded financial assets is not random

Tony Plummer, in his book The Psychology of Technical Analysis, wrote: “Technical analysts know the price of everything, but the value of nothing.” This is partly true, which is why technical analysis should always be used in conjunction with fundamental analysis.

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  1. What are Round Numbers?
  2. What is Fibonacci Retracement?
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