Advanced GET Studies - GET Relative Strength Index
Overview
The GET Relative Strength Index (RSI) is designed to indicate a market's current strength or weakness depending on where prices close during a given period. The RSI is calculated by finding the percentage of positive closes (the current close is higher than the previous close) to negative closes (the current close is lower than the previous close). It is based on the premise that higher closes indicate strong markets and lower closes indicate weak markets. The RSI is displayed as three lines, the RSI and two moving averages of the RSI.
The GET Relative Strength Index (RSI) is designed to indicate a market's current strength or weakness depending on where prices close during a given period. The RSI is calculated by finding the percentage of positive closes (the current close is higher than the previous close) to negative closes (the current close is lower than the previous close). It is based on the premise that higher closes indicate strong markets and lower closes indicate weak markets. The RSI is displayed as three lines, the RSI and two moving averages of the RSI.
Generally, a buy signal is generated when the RSI moves up through the lower band (band set to 30), and a sell signal is generated when the RSI moves down through the upper band (band set to 70). However, the buy and sell level will vary somewhat depending on the length you choose for the RSI calculation. A shorter length will result in the RSI being more volatile. A longer length results in a less volatile RSI, which reaches extremes far less often. Different issues will have slightly different levels at which the price changes direction. These levels are usually close to each other. The vast majority do seem to change direction at 30 and 70.
Please note that you must purchase Advanced GET to access this study.
How do I apply the GET Relative Strength Index study?
alternatively, you can also right-click on the chart, when the menu appears, left-click on insert study, left-click on the advanced get tab and then select get relative strength index .
the get relative strength index study will then appear in study pane of the chart window.
To apply the GET Relative Strength Index study to a chart, left-click on the GET icon and select GET Relative Strength Index from the drop-down menu.
alternatively, you can also right-click on the chart, when the menu appears, left-click on insert study, left-click on the advanced get tab and then select get relative strength index .
the get relative strength index study will then appear in study pane of the chart window.
Properties
To edit the GET Relative Strength Index study parameters, either right-click on the chart and select Edit Chart or right-click on any of the lines of the study and select Edit.
Mov Avg 1 Exponential: When checked, Moving Average 1 is calculated as an exponential moving average.
Mov Avg 2 Exponential: When checked, Moving Average 2 is calculated as an exponential moving average.
Length: Indicates the number of bars to use in the calculation of the RSI.
Mov Avg 1: Sets the length of Moving Average 1.
Mov Avg 2: Sets the length of Moving Average 2.
Source: Select the source of calculation of the RSI - the open, high, low, close, (H+L)2, (H+L+C)/3, or (O+H+L+C)/4.
Upper: Sets the level where the upper band is drawn at.
Lower: Sets the level where the lower band is drawn at.
Alerts
Select the Alerts tab to set an alert for when the GET RSI crosses the Upper, Lower, RSI Mov 1, or RSI Mov 2. Also when RSI Mov 1 crosses over RSI Mov 2 or when the GET RSI is greater or less than a set value.
Auto Reactivate: When checked, the alert will reactivate so it can be triggered again.
Once per Bar: When checked, the alert will not trigger again until the price bar forms.
Alert Action: Select for when an alert triggers, to get a pop up alert, an audio alert, and if configured, an e-mail alert message.