True, its inside the nature of the RSI indicator. It in the name too, because RSI stands for relative strength index, in other words it relative. Its also fully true this indicator is used to get the best trade momentum on the short period, so combined with for example MA or MACD this indicators will work very good. (or you can use a StochRSI or stochastic too instead)
I can also tell that its sure possible to use this indicator stand-alone. But to make that work you need to expand the scope of the time-span the RSI watches. To make this work you can choose to increase the update timer to 2 minutes (or longer, i use normally 4min) or you could extend the length. By default 30 prices are used, but if you double this the scope will become lager too. By the end both solutions will just expand the time-span, giving a better relative position both in there own way.
Tuning the RSI with any other indicator can be hard, especially if you miss the total overview of whats happening. But this problem will soon become a part of the past. The update that is being tested right now will offer the ability to "auto-tune" an entire trade-bot at once. By offering this ability you can leave it up to the software to work out a good strategy.
I will post some advises later on how to make optimal use of this new tuning feature, after the update is released. (i do this to avoid confusion right now)
Of course this technology is NOT fully solid. In some cases at some indicator combinations it just impossible to find out a good strategy. Or if the prices are in a downtrend, in that case the tuning will fail to because at that moment its up to the Safeties to do there work. In a stable or upward trend this is different, in these cases the tuning will work at its best.
About Cryptsy... it took us 2 beta testes but it looks like we have Crytpsy for the biggest part up and running again. I measure a success rate of more then 95% of reading the prices properly again. I also have had contact with Cryptsy themselves to ask whats going on and how to solve it. They have told me the main cause of the problems is a overload on there API. Thats why the prices are not coming back, especially now in the current version because the orderbook is just missing from the API. The work-around solves this for the biggest part at the moment. I hope Cryptsy itself will solve the server overload so we can get that remaining 5% inside the success rate.
About MtGox... At the current moment MtGox is down, trading has halted and the API does not show anymore activity. For the existing users this is not a direct problem, because the software just halted to in this situation. But the future for MtGox is unclear, personally i think they will be gone in a few days. So we are making preperations to move MtGox out of the software. No worry, the code will stay so if they will make a comeback we are ready. But we will remove them from the interface itself, its seems to serve no use to keep them in there if the trading is halted.
