RSIPowerTrend is a modification of the RSI, it can detect bounces on support or resistance zones and the exponential moving average 200. Its use is simple, it is in the form of a histogram, when the bars of the histogram are green, the market is rising, when they are red, the market is going down and when they are gray, the market hesitates. RSIPowerTrend sends a buy or sell signal as a notification or alert each time a new bar with a different color appears.
It is useful to combine RSIPowerTrend with areas of supports and resistors and the EMA200.
- Buy when a buy signal is sent and behind there is a rebound on a support or on the EMA200.
- Sell when sell signal is sent and before there is a rebound on a resistor or on the EMA200.
RSIPowerTrend can be used on any currency pair and on any timeframe.