Builtin RSi vs Library RSI

[mbuta]

Builtin RSI and Library RSI give diferent results.

Which one is correct?
Thanks.

[ACM]

Mihai
You may want to go through this thread and specifically this message.
FWIW the results using RSIEnhanced match both the Basic Studies RSI and the one in the Builtin folder.
Alex

[mbuta]

Alex,
Thank you for the reply.

I looked and concluded that "enchanced RSI" is not RSI.
It is only a Welles moving average of "gains" and "losses", which is not RSI.
This explains why your RSI does not get to overbought/oversold values as it should.

For example, RSI = 75 means that "AverageGains" are 3 times bigger than "AverageLosses", and RSI = 25 means the opposite (AvLoss=3xAvGain), which is not what "Enchanced RSI" means, although the shape is the same.

Thank you. I will have to hardwire the "original RSI" into all my work.

NOTE: I wonder if there are other "enchanced" builtin indicators.

Mihai

[mbuta]

By the way,

I think the "standardRSI" in the Library is also incomplete and may give erroneous results in real time if "ComputeOnClose" is not set.
I will check it on Monday.


Thanks,
Mihai

[ACM]

Mihai

This explains why your RSI...

No, not "my RSI". As much as I would be honored to take credit for a lot of the things eSignal does I cannot as I do not work for them.

Alex

[ACM]

Mihai

I think the "standardRSI" in the Library is also incomplete and may give erroneous results in real time if "ComputeOnClose" is not set.

What you say would imply that the study will "drift" as data comes in and that a Reload would readdress the existing plot.
FWIW I have run the RSIStandard in Tick Replay over a number of times and Reload does not seem to have any effect on the plot.

Alex