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.
||Defines price used in calculations.|
||Defines the number of bars used in calculation of RSI.|
||Defines the overbought level.|
||Defines the oversold level.|
||The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.|