if the turn on the oscillators could make us money, there will not be a market....all the technical indicators will fail 2 out of every 3 times...so 66.6% failure rate!What you need is the strong discipline to take the trades thats successful 33.3% of the time and even stronger discipline to maximise profits on the winning trade without being a HOG that gets slaughtered!
Extremely unreliable. Overbought and oversold is a myth, as the best rallies happen when overbought. But they are pretty useful for measuring trend - i.e. when pointing up, and above 50%, don't try and short. So they tend to be more useful as filters for trades, rather than indicators.
Finding to be more applicable as the tick period increases and then only where back testing gives adequate correlation. Outbreaks of sustained volatility blurs most all TA. The influence of high-volume, short-duration computer algorithm trading in thin markets creates risk of suicide for analogue (human) traders. Please interpret. This does not compute. Never mind Hal, we want to keep it this way.