RSI - Yes very much so. I normally look at the Daily chart first to see how that looks. Then check the Weekly for the last 5-10 years or so to see overall trend.
Then if that looks good, I check the 15 Min chart for an entry/exit point. I look for RSI, STO, moving up, following trend lines. Look for MACD crossing or closing and moving up. Basically just trading off support and resistance lines on the RSI and also the price, but actually have found that trading off the RSI support and resistance lines is a sound trading pattern for me.
The thing that I REALLY look for is on the 15 min chart, when the price is sloping down and the RSI has been sloping up for that same period. That divergence I have found to be great. Any type of double-dip (like a small double bottom) on the 15 Min chart seems to really be great.
RSI is my #1 indicator, then Full Sto and then follow it up with MACD, then Bollinger Bands. The other few I'm trying to learn to help me is OBV, CMF, and Accu/Dist. But truthfully, so far all I see in those (OBV, CMF, ACC/Dis) is that they move the same with the price. Am trying to dig deeper to see if they can confirm or tell me more.
I admit to being pretty much of a one-trick pony in what I look for, because quite frankly it seems to work for me.
Where I have some problems is with stocks like ELTP, its hard for me to enter when it's been moving so well, and the RSI and other indicators are still high. IN ELTP's case, I'd have to look at the Flag its making (or pennant, or triangle) and use that too to see if it breaks out of that pattern.
These thoughts are just mine, not right, not wrong, just thoughts. Invest in what you believe in, not what I believe in. Do your research, and invest in the facts.
