DislikedIf you're only looking in overbought/oversold condition to initiate trade, you should only trade in range bound market conditions. In trending conditions indicator can stay in overbought/oversold terittory over extended period of time. Just look at USD/CAD, you would made huge loses in counter trend trading. I personally use fibonacci retracements and extensions in combination with relative strenght index RSI (14). Relative Strength Index RSI(14) When RSI tags 70 or higher (overbought) you have confirmed existence of uptrend (impulse wave(s)). IF...Ignored