What is the Best Oscillator for Tops and Bottoms?

andre.muhammad

Member
VIP
I have been fooled too many times with the various types of RSIs and was hoping someone had better choices. Thanks for your responses in advance.
 

scott69

Active member
Well, if an indicator exists that can signal tops and bottoms in any situation, that indicator would be the "holy grail." If you have an indicator, like the RSI, set to point out tops and bottoms in "normal" conditions (i.e. occur in a high percentage of swings) these will, of course, stay overbought or oversold if price continues higher and higher (or lower and lower) well past where price should have turned. Price action lately has seen many examples of this where price either continues to rally or dump out for longer than most traders would expect a turn. This is typical of high volatility atmospheres, meme stocks or both panic buying and selling. One thing that works for me is to combine the RSI with the ADX. If set properly, the ADX will show a turn in momentum while the RSI is still over indicated. Also, using this combination in different time frames should give some notice of a change of trend. Again, there is no perfect indicator. You can only play the odds and use good risk management, i.e. stops. Scott
 

Mr_Wheeler

Active member
Grid setup - https://tos.mx/X9yfAZd

On the left side.


------------

On the right side


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Here's the non-flex grid studies.

https://tos.mx/H9FHkOG




Here's my study set. The Flex grid has a 3 day -15 minute chart that has after-hours and a duplicate chart but without after-hours. I have both charts because after-hours makes my study less affective, but I also would like to see after-hours actions.

5o0WqFt.png


wNieIQn.png
 
Last edited:
Very nice grid / setup Mr Wheeler! how did you remove price from one of your grid cells/panels? I'm looking over all the settings and still can't find out how you did that. haha
 

CrunchTheMarket

New member
VIP
I have a thought. Look at the RSI as it hits 70 heading into overbought or 20 for oversold. That way you don't need to call the bottom or top. You just need continuation for a few Sheqels.
 

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