Not a recommendation of a specific security or investment strategy. If enabled, displays a down arrow every time the RSI crosses below the overbought level. If enabled, displays an up arrow every time the RSI crosses above the oversold level. The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.Ĭontrols indication of RSI crossovers above and below the overbought/oversold levels. The number of bars used to calculate the RSI. Actual indication of RSI crossovers with the overbought/oversold levels can be enabled by setting the show breakout signals parameter value to yes. These values can be adjusted in the input parameters. RSI is widely used as an overbought/oversold indicator, with default values of 30 for the oversold level and 70 for the overbought. By default, the Wilder's moving average is used in the calculation of RSI, however, you are free to select a different type of average in the input parameters. The Relative Strength Index (RSI) is an oscillator that rates the strength of a security on a scale from 0 to 100, comparing magnitudes of its recent gains and losses.
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