Backtesting The RSI Ondicator

2019-12-04 09:43:24

I had been indicators recently. I have heard soo many peoplesay that indicators are useless. A while ago I backtestedthe rsi indicator in my practice account wiyhout looking at any chart. If price was above the middle line, i bought. If it was below, I sold. Nearly every pair went into profit immediately

I tried it again today. 12 trades and after 2 hours, all 12 trades were in profit! The rsi line had to be pointing up and above the middle line for a buy and the opposite for a sell.

U should try this with a nuetral view on indicators.
By the way, I entered a sell on nzd/jpy on the daily chart with candlestick only analysis