Relative strength index
Momentum bounded 0 to 100, from average gains against average losses.
Inputs
| Name | Type | Default | Range |
|---|---|---|---|
| source | source | close | |
| period | int | 14 | 1 to 5000 |
| method | choice | wilder |
Outputs
| Name | Type | Required | Description |
|---|---|---|---|
| rsi | value | Optional | color theme.accent, style line, width 1 |
- Warm-up
- period bars (14 at the defaults)
- Repaints
- No
- Parity
- TA-Lib, within 1e-9
Formula
gain = the change when it is positive, loss = minus the change when it is negative
wilder: the averages start as the mean of the first period gains and losses, then average = (previous average * (period - 1) + value) / period
cutler: the averages are simple means of the last period gains and losses
RSI = 100 * AvgGain / (AvgGain + AvgLoss)
A window with no gain and no loss reads 50.