How to Use Muunship’s RSI Scanner to Make Better Trading Decisions
If you’re a trader or investor in the financial markets, you know how important it is to have the right tools to help you make informed decisions. One of the most popular technical indicators used by traders is the Relative Strength Index (RSI), which measures the strength and momentum of price movements.
At Muunship, we’ve developed a powerful RSI scanner that can help you identify potential trading opportunities and make better decisions. Here’s how you can use our RSI scanner to improve your trading game:
- Understand the basics of RSI
Before you start using the RSI scanner, it’s important to have a good understanding of what RSI is and how it works. As mentioned earlier, the RSI measures the strength and momentum of price movements over a set period of time. It’s expressed as a number between 0 and 100, with readings above 70 indicating that an asset is overbought and readings below 30 indicating that it is oversold.
When the RSI is above 70, it means that the asset has been pushed too high too quickly and may be due for a correction. When the RSI is below 30, it means that the asset has been oversold and may be due for a rebound.
- Set up your RSI scanner
Once you have a good understanding of how RSI works, it’s time to set up your scanner on Muunship. First, log in to your account and go to the scanner section. From there, select the RSI scanner and choose the assets and timeframes you want to monitor.
