Many new traders use the Relative Strength Index (RSI) to determine overbought or oversold levels. This is wrong as RSI is a momentum indicator. In fact, using it on its own as a trading strategy is not going to help you maximize your profits. This video will help you understand exactly how to use the RSI indicator effectively.
00:00 How you are using RSI incorrectly
00:40 What is the Relative Strength Index (RSI)
01:18 Biggest Mistake When Using RSI
02:59 What is Regular (Classic) Divergence
05:25 Strategy to Trade Classic (Regular) Divergence
09:09 What is Hidden Divergence on the RSI
13:49 Tip #1 - Change the Source for More Accurate Readings
14:59 Tip #2 - How To Remove the Overbought and Oversold Settings
16:19 Divergence Tool on TradingView to Help Spot Divergences
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👀 Want to learn more about Relative Strength Index trading? Watch this short video:
The BIGGEST Mistake Traders Make Using Relative Strength Index (RSI) | Explained for BEGINNERS #shorts - https://youtube.com/shorts/sWjcoFHBbAM
📒 Need more help? Learn more about the RSI indicator at Bybit Learn: https://learn.bybit.com/indicators/what-is-rsi-and-how-do-you-apply-it-to-crypto-trading/
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