The RSI (Relative Strength Index)is one of the most popular technical analysis indicators and is used to measure the strength or weakness of an asset's price over a given period of time.
The RSI is a momentum indicator developed by J. Welles Wilder and ranges on a scale of 0 to 100.
It's main purpose is to identify overbought or oversold conditions, which may indicate a reversal or consolidation of price.
The RSI indicator compares the absolute value of price increase for a given period of time with its level of decline for the same period. The result of the calculation is shown in the form of a curve on the chart, with values ranging from 0% to 100%.
INDEX
- Settings-of-Use
Use Settings
Clicking on the indicator settings icon will open its configuration window, within which you can make several choices regarding the indicator's functionality.
Parameters
The parameter section is divided into a few sub-sections:- General: Allows you to select the data base and period.
- Average: Allows you to enable averaging and choose the type and period.
- Level Settings: Allows you to change the values of the overbought and oversold thresholds, along with their style.
Series
In the series section, you can change the colors and style of the RSI graph and its average.
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