RSI Chart Bars Indicator
The RSI (Relative Strength Index) is a popular momentum oscillator that identifies overbought or oversold conditions in a market. Combining RSI with colored candles in a chart can enhance trade setups by visually highlighting potential entry and exit points. For example, when the RSI crosses above 70, indicating overbought conditions, and the candle turns red, it may suggest a potential sell signal. Conversely, if the RSI dips below 30, signaling oversold conditions, and the candle turns green, it could indicate a potential buy opportunity. Utilizing these visual cues together can provide clearer trading signals and improve decision-making in various market conditions.