Description
The Relative Strength Index (RSI) strategy is based upon the eponymous technical indicator.
The RSI is an oscillator comparing the magnitude of a stock's recent gains to the magnitude of its recent losses on a scale from 0 to 100. Buy and Sell signals occur upon crossovers of RSI values with oversold and overbought levels. The strategy adds a simulated Buy order when the RSI crosses above the oversold level and a simulated Sell order when it crosses below the overbought level.
Input Parameters
| Parameter | Description |
|---|---|
price
|
Defines price used in calculations. |
length
|
Defines the number of bars used in calculation of RSI. |
over bought
|
Defines the overbought level. |
over sold
|
Defines the oversold level. |
|
|
The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull. |