Function Name: rsi

Tags: Relative Strength Index

Category: Momentum

The Relative Strength Index (RSI) indicator calculates a value based on the cumulative strength and weakness of price (Close price), over the period specified by the Period parameter. For that number of bars, RSI accumulates the points gained on bars with higher Closes and the points lost on bars with lower Closes. These two sums are indexed, with the index plotted on the chart.

The Relative Strength Index is an oscillator with values that range from 0 to 100. The RSI plots upper and lower boundaries to determine overbought and oversold market conditions. The direction of RSI should confirm price movement. For example, a rising RSI confirms rising prices.

The RSI can also help identify turning points when there are non-confirmations or divergences. For example, a new high in price without a new high in RSI may indicate a false breakout. RSI is also used to identify overbought and oversold conditions when the RSI value reaches extreme highs or lows. This indicator automatically changes the color of the RSI plot when it exceeds either of the levels specified in the inputs BuyZone and SellZone. Horizontal reference lines are also plotted at these levels as visual aids.







Default Value: 14  |  Minimum: 2  |  Maximum: 9999


Type: Numeric



Default Value: 70  |  Minimum: 0  |  Maximum: 100


Type: Numeric



Default Value: 30  |  Minimum: 0  |  Maximum: 100


Type: Numeric



Default Value: 1  |  Minimum: 1  |  Maximum: 1000


Type: Numeric