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The Question: Is the RSI the same as Stochastics ?
My view would be: Yes, they are more or less doing the same task. The RSI uses only closing prices, while the stochastics uses three price streams (high,low,close), but the interpretation is almost the same.
These would be called co-related indicators.
Yet, it is possible to use them to-gether as a trend - momentum combination.
Use a 14 period RSI. If the RSI is moving up, we are in an up trend. Now, use a 5-3-3 stochastics. This would be a very fast line. When this stochastics moves into oversold, buy (this would be a dip in the main uptrend).
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