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.

rsi average type

The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.