What Is Relative Strength Index (RSI)?
RSI stands for Relative Strength Index and it is a momentum indicator that measures the strength of the price changes over a specified period of time (look-back period). These price changes coupled with its strength evaluate its overbought and oversold conditions. This is its strength relative to its price, hence the name “Relative Strength Index”.
RSI is a very versatile indicator and should be in every trader’s toolbox, especially when trading cryptocurrencies.
How is RSI calculated?
The calculation for RSI is a two-part equation, and for your viewing pleasure here is the formula:
The first part of the equation obtains the initial Relative Strength (RS) value, which is the ratio of the average ‘Up’ closes to the average of ‘Down’ closes over ‘X’ periods represented in the following…
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