I am currently using xtick for charting.
Using xtick they have a purpose called painting where you can set up alarms on different indiors.
I did a simple test on rsi and stockastics (overbought and oversold alerts) and discovered that when price attained the oversold/overbought amounts the results were as arbitrary as a coin toss.
Actually it had been plain dangerous to put any faith in these types of signs at all because the price was just as apt to continue at the initial direction as to undo.
REALLY IT WAS 50/50
This showed me that these indiors are somewhat less than usefull, because as I said they could be downright harmful
that I have no idea why folks would place any faith at all in overbought and oversold indiors after that experience.

Everyone can observe this in a minute with XTICK or MT4 so what am I missing here....
Could anyone explain to me why folks use these indiors????