What are the best MACD and RSI settings for a one minute chart? If you don't mind explaining the rationale, that would be appreciated.
Honestly speaking, don't bother about having those indicators. Why? Because market moves in various manner / fashion / characteristics. Sometimes it goes up 2 steps then back down 1 steps and .... Sometimes it goes up 10 steps then back down 9 steps and ... Sometimes it takes a few seconds to reach the destination. sometimes it takes hours. etc etc etc You can't have A particular MACD and RSI setting to take care of all the above conditions. This important point is not mentioned by professional talkers and professional writers. Then the next question would be ' How about having multiple macd and rsi settings to take care of various market conditions? ' Just focus on price / price action.
A 1-minute chart? Not gonna happen. The MACD is a trend-spotter -- you're not going to find a worthwhile trend on a 1-minute chart. You'll get correspondence for 2 or 3 candles, then a wipe-out. (Which wipes *you* out, too.) The RSI -- for all it's popular-media mentions -- has never been something by which I have seen tradeable signals generated. (No matter the settings.) There are other TAs related to the RSI which are miles better, for longer term *and* for 1-minute charts. Bottom line? If your TAs or TA settings are not generating trade signals with profitable outcomes, change 'em. You need to beat a coin flip.
. Good1, thanks for the links. I hadn't seen the TradingRush videos on YouTube or on their website before, and even though the approaches they show are a bit simplistic, they have the virtue of being highly objective. IMHO the mechanical entries & exits & tests that they present is good stuff, probably especially good for new traders to see.
Configure a trading chart for rsi and post an image here when that's done. Settings will be simple adjustments from there. Search rsi Failure Swing Pattern on youtube and https://yippy.com/search?query=rsi+Failure+Swing+Pattern
RSI DIVERGENCE FAILURE SWINGS can indicate a trend change, only a heads-up, which for my purpose requires a further setup and an ENTRY TRIGGER to break out of no-go mode. YMMV The RSID on Oct 1 did not correspond to a trend change for a number of bars, Beware - these continuations beyond the heads-up can run far. The FAILURESWING aspect helped delay beyond the continuation in this case but not always. Look at and take stats on numerous examples of RSIDFS setups if you plan to trade them. Keep your eyes on your fries. Post up some info on how you might use MACD with RSI when you get a chance. ROCK ON, EDDIE