The Relative Strength Index, RSI, is a very popular trading indicator used in technical analysis. Based on the closing prices, it measure the strength and weakness of a given security or asset.
The Relative Strength Index was first published in the "New Concepts in Technical Trading Systems" book, by J. Welles Wilder.
The Relative Strength Index formula in QuantShare is "RSI".
There are two variations; the first one has one argument, which is the lookback period.
The second one has two arguments. The first argument allows you to specify a custom time-series (In the first variation the close price is used), while the second argument is used to specify the lookback period. The custom time-series allows you to perform the calculation of the Relative Strength Index on a time-series other than the close price.
Example: RSI(close, 14)
