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Relative Strength Index (RSI) - Sparta Indicator
Summary: The indicator produces the standard 14 setting of the Relative Strength Index.
Relative Strength Index On the Charts
According to Investopedia, “The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.”
The chart for this indicator shows the RSI oscillating in a scale ranging from 0 at the bottom to 100 at the top. The bottom section of the chart shows a blue background covering the range from 0 to 20, also marked by a dotted line. When the RSI value falls below the 20 mark, the RSI line turns red, for easier visualization. Also in the bottom section, there is a second dotted line signaling the 30 mark.
The equivalent (although reversed) effect is featured on the top half of the charts, with dotted lines signaling the 70 and 80 levels, and a blue background above 80.
There is also a dotted line at the 50 mark, signaling the median of the chart.
For the time being, the chart is fixed on the screen and the user may not move it.
Relative Strength Index Products & Properties
The RSI product currently available uses the standard setting of 14 periods, and features a single property:
rsi14.value Examples:
chart.at24hs.rsi14.value >= 70 How’s the trend going at the 24-hours chart?
Sparta Data Mine — TOC
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2. Simple Moving Average (SMA) - Sparta Indicator
3. Exponential Moving Average (EMA) - Sparta Indicator
4. Relative Strength Index (RSI) - Sparta Indicator
5. Moving Average Convergence Divergence (MACD) - Sparta Indicator