Period: RSI period in bars
offset: 0-100 (optional, defaults to 0)
series: optional, see below
RSI = 100 - ( 100 / (1 + RS))
RS = (average of N up closes) / (average of N down closes)
N = period in bars (typically 14)
RSI is calculated as a series that smooths the impact of large price movements. The RS is calculated using moving averages that are smoothed by previous averages, as explained here: Invest Excel: Relative Strength Index. The more data points that are used to calculate the RSI, the more accurate the results. We use up to 100 bars prior to the first bar (assuming that much exists), which is a compromise between accuracy and performance.
You can use the offset parameter to spot divergence in the RSI and the price action. To screen for RSI(14) > 70, and has increased from the value 10 bars ago, enter:
RSI(14,0) > 70 And RSI(14,0) > RSI(14,10)
You can calculate the benchmark RSI to create a market timing signal. For example to exit all positions when the market is overbought (RSI > 70) enter the following sell rule:
RSI(14,0,#Bench)>70
Series Parameter
By default, technical functions access the time series of the instrument in context. Normally, that is the Stock or ETF currently being evaluated or ranked. In specialized Ranking Nodes, the context depends on the node type. For example, in an "Industry Node" (used to rank Industries against each other), the industry benchmarks are the default context.
You can specify a different time-series in several ways like: using GetSeries(), specifying a StockID directly, or using a time series id. See the examples below.
Examples
Get the latest close price using Close(0, series) using different methods for different time series.
| Using the ID directly | |
| Using the StockID for SPY:USA* | Close(0, 24262) |
| For the Industry series of the stock being evaluated | Close(0,#Industry) |
| Using a Time Series Id | Close(0,$RUI) |
| For the benchmark | Close(0, #Bench) |
| Using GetSeries | |
| Using a fully qualified ticker | Close(0, GetSeries("SPY:USA")) |
| When USA is your default | Close(0, GetSeries("SPY")) |
| See GetSeries() for more examples like for aggregate series | |
| * StockIDs never change | |
Predefined Series IDs
These are special series ids. Additional Series Ids can be found in the reference under: MISC→TIME SERIES IDs
| Id | Description | Freq | OHLC |
| Industry and Sector | |||
| #Sector | Stock's Sector | Daily | C |
| #SubSector | Stock's SubSector | Daily | C |
| #Industry | Stock's Industry | Daily | C |
| #SubIndustry | Stock's SubIndustry | Daily | C |
| Miscellaneous | |||
| #Bench | Benchmark closing prices | Daily | C |
| #TNX | 10Y Treasury Note | Daily | OHLC |
| FED Model series (chart) | |||
| #SPRP | SP500 Risk Premium | Weekly | C |
| #SPEPSCY | SP500 EPS CurrentY | Weekly | C |
| #SPEPSNY | SP500 EPS NextY | Weekly | C |
| #SPEPSCNY | SP500 EPS Blend Y | Weekly | C |
| #SPEPSQ | SP500 EPS Blend Q | Weekly | C |
| #SPEPSTTM | SP500 EPS Trailing 12 months | Weekly | C |
| #SPYield | SP500 Yield | Weekly | C |
Special Series Ids for Moving Averages & Highest/Lowest functions
| Id | Description | Context |
| #Open | Open prices | Stock & ETF |
| #High | High prices | Stock & ETF |
| #Low | Low prices | Stock & ETF |
| #Vol | Volumes | Stock & ETF |