Relative strength indicator or Relative Strength Index indicator is one of the most proper indicators to determine trading time or trading momentum on Forex trading market and relative strength indicator has built in best technical indicator over the past decade for defining reversal levels for entry trading.
You can use this indicator alone and also can be used with other technical indicator to get better analysis. Many Foreign exchange traders said that relative strength indicator always to be good for trading in Forex.
This technical trading indicator is favorite among traders because this indicator is so easy in use and also easy to understand. The indicator value calculates the momentum on 0 to 100. And here are the trading signals, when the indicator moves below 30 level then we can assume the market trend is in oversold and when the indicator trades above 70 then we can assume the market trend is in overbought area.
As we already knew that if we need to use the indicator it to determine that overbought and oversold analysis are not the same with sell signals and buy trading signals. Because a forex pair can still oversold or overbought for longer time.
A bullish trading signals, usually becomes critic only if the Relative strength indicator trades above 30 from oversold, in other hand if a bearish trading signal can be generates if the relative strength move down under the 70 level.
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