Sorry, some of that is incorrect, I typed in haste.
MACD and RSI are opposite of each other when it comes to ranging and trending. RSI is indeed more useful in ranging markets, but in a similar way MACD is more useful when trending. MACD is based on the relationship between 2 MA's. In a ranging market the MA's get all muddled up and give many false signals. In a trending market the MA's are more orderly and MACD signals are more reliable.
For this reason, chartists often have both indicators on the chart and switch between the two depending on whether or not an established range or trend is in play.
Kluck you would find the MACD on larger TF's (Daily etc) more useful at the moment.
IMUGENE CHART. TA only, page-470
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