RSI in Amibroker

arcus

Well-Known Member
#1
Guys, I had been using chartnexus for my charting purposes till yesterday but I wanted to try out Amibroker. So, I downloaded the data using getbhavcopy and started using it. But there is a problem. The RSI values is different in chartnexus and Amibroker.

For example, for the end of today (23rd July), chartnexus is showing 14 day RSI for Nifty (the index) as around 72.8 and Amibroker is showing it as 62.5

Which one is correct?
 
#2
Guys, I had been using chartnexus for my charting purposes till yesterday but I wanted to try out Amibroker. So, I downloaded the data using getbhavcopy and started using it. But there is a problem. The RSI values is different in chartnexus and Amibroker.

For example, for the end of today (23rd July), chartnexus is showing 14 day RSI for Nifty (the index) as around 72.8 and Amibroker is showing it as 62.5

Which one is correct?
You have downloaded data using bhavcopy which i think fetches data from Nse website so this data is correct.
 

arcus

Well-Known Member
#3
You have downloaded data using bhavcopy which i think fetches data from Nse website so this data is correct.
I have checked both the price action, they are identical. Infact the MACD is also the same. Its only the RSI that is different.

The chartnexus is showing some sort of a negative divergence in RSI but the Amibroker RSI is steadily climbing up. So, it makes a lot of difference in my technical analysis. Just wanted to know which was the correct one.

Anyone can please check their EOD for today?
 
#4
I have checked both the price action, they are identical. Infact the MACD is also the same. Its only the RSI that is different.

The chartnexus is showing some sort of a negative divergence in RSI but the Amibroker RSI is steadily climbing up. So, it makes a lot of difference in my technical analysis. Just wanted to know which was the correct one.

Anyone can please check their EOD for today?
You share the OHLC values for last 2-3 days so that we can compare.
I am using Nse data in Amibroker
 

arcus

Well-Known Member
#5
23/7 - 6064.3, 6093.35, 6061.3, 6077.8; RSI = 62.51
22/7 - 6009.75, 6064.15, 6004.25, 6031.8 ; RSI = 59.87
19/7 - 6057.2, 6066.85, 6020.25, 6029.2; RSI = 59.72

Please check the 14 day RSI values in your chart and tell if they are correct.
 

sibu3168

Well-Known Member
#6
Hi arcus,

Have you checked the properties of RSI in Amibroker. It takes the default value of 15 period but in other charting software the default value is 14. So check it first.

Thanks
 
#8
23/7 - 6064.3, 6093.35, 6061.3, 6077.8; RSI = 62.51
22/7 - 6009.75, 6064.15, 6004.25, 6031.8 ; RSI = 59.87
19/7 - 6057.2, 6066.85, 6020.25, 6029.2; RSI = 59.72

Please check the 14 day RSI values in your chart and tell if they are correct.
my values are 62.49, 59.85 and 59.7 respectively though Nifty values are same as you mentioned
 

arcus

Well-Known Member
#9
I see. Something is wrong though. Chartink Nifty chart is also showing a 14 day RSI of 72 odd like the chartnexus one.

Those figures show some sort of negative divergence which isn't visible with the Amibrokers RSI figures.

If we are to believe the SGX Nifty futures as of now, its down 1%.

So yeah. I think I'll revert back to chartnexus as I have been using it for over a year.
 
#10
I see. Something is wrong though. Chartink Nifty chart is also showing a 14 day RSI of 72 odd like the chartnexus one.

Those figures show some sort of negative divergence which isn't visible with the Amibrokers RSI figures.

If we are to believe the SGX Nifty futures as of now, its down 1%.

So yeah. I think I'll revert back to chartnexus as I have been using it for over a year.
Have you checked the settings of RSI, it can be different there.
Like there is also an option of custom RSI in amibroker where you can plot RSI on close, open, high, low etc
 

Similar threads

Trade in Rs 20, No more % brokerage

Name:Phone:
Email:City:
State:
Are you a day trader?