RSI (Relative Strength Index)

The RSI (Relative Strength Index) is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. It can also be used to spot divergences, which can signal a potential trend reversal.

Arguments

Useful Signal Expressions

1. RSI Overbought

Signal:

close().rsi(14).gt(70)

Explanation: The RSI is above 70, which can indicate an overbought condition.

2. RSI Oversold

Signal:

close().rsi(14).lt(30)

Explanation: The RSI is below 30, which can indicate an oversold condition.

3. RSI Bearish Divergence

Signal:

close().rising(5).and(close().rsi(14).falling(5))

Explanation: The price is rising while the RSI is falling, which could signal a potential bearish divergence.