iCharts Discussions

pradyehv · White Belt Joined: 09 Jan 2007 Posts: 43

Hello ST,
as on today 28-sep-2008 jcharts eod rsi 14 period value is 24 and a bit.
In meta stock + amibroker + indiabulls website rsi value is computed as 34 and a bit. Could you please have a look ?

Best Regards
Pradeep

SwingTrader · Posted: Sun Sep 28, 2008 7:50 pm Post subject:

Pradyehv,

For which scrip? I just checked for NIFTY EOD data and the RSI (14) value is 37.53 in both JCharts (EOD) and Charts (Premium). In StockCharts.com $CNXN (NIFTY) is 36.91. We have fixed RSI computation few months ago and now it is correct as per the popular RSI computation formula. We have verified it many times. I will see why our values differ from StockCharts.com's values. They should match as we have fixed our RSI computation using their formula which I believe is accurate.

I can't say anything about MetaStock / AmiBroker / Indiabulls, I don't use those tools.

Will update you about here if I find something.

SwingTrader · Posted: Sun Sep 28, 2008 8:47 pm Post subject:

Pradyehv,

I have attached the RSI spreadsheet (from StockCharts.com) and have put in NIFTY EOD data starting from 1st trading of 2008. RSI is computed in the last column on the spreadsheet. Look at the last row in the spreadsheet (26-SEP-2008), the RSI is 37.53. It matches exactly with the value shown in our charts. We use the same formula as StockCharts's spreadsheet uses - it is the standard RSI formula (strangely StockCharts.com's Nifty chart shows a slight deviation in RSI values).

You have to be careful with the software tools you use as they might be using modified indicator formulae. Many tools want to give their own special touch. We try and use the standard formula for all indicators (in Charts (Premium)). For JCharts, we cannot modify any formula, fortunately for RSI they use the standard formula so it matches with our Charts (Premium) value).

I hope this clears your doubts.

pradyehv · White Belt Joined: 09 Jan 2007 Posts: 43

Hello ST,
I am terribly sorry. My time period of rsi was 8. Sorry for having wasted your time.

Cheers
Pradeep

SwingTrader · Posted: Mon Sep 29, 2008 9:59 pm Post subject:

No problem at all.