Has Nifty peaked out already ?? RSI readings - variation in different sources

#1
Did Nifty's RSI(14) cross 70 and trend downwards ?? :confused: Chartink.com says it has, but the other sources differ, saying that RSI has yet to touch 70 in the present uptrend from 4720.

Different sources are giving different reading, both using the same RSI(14). Maybe they are using different average period, but it is not defined.

According to chartink.com :



According to icharts.in :



Trade tiger too says that RSI hasn't yet touched 70, but then it asks for two parameters, Average period and RSI period.
 
#2
Follow-up :

Guys, I had also written to Chartink.com about this and have received a reply from them :
Hello, thanks for your feedback.

There are 2 ways of calculation the RSI, using 14 day high/low for every candle or using the previous RSI to compute the next RSI

We currently in our EOD Charts use the last 14 days (highs/low) for every candle, this is the most commonly used on End of day charts


If you have any more queries, please fee free to contact us.



Thanks
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xxxxxxxxxxx (name)
Chartink.com (B-Networks)
Fine, explained. But my basic problem remains. Has nifty's RSI crossed 70 and reverted, or is yet to cross ?? :confused:
 

vikrit

Well-Known Member
#3
Did Nifty's RSI(14) cross 70 and trend downwards ?? :confused: Chartink.com says it has, but the other sources differ, saying that RSI has yet to touch 70 in the present uptrend from 4720.

Different sources are giving different reading, both using the same RSI(14). Maybe they are using different average period, but it is not defined.


Trade tiger too says that RSI hasn't yet touched 70, but then it asks for two parameters, Average period and RSI period.

difference in chart link and other two is other two using close values.
so in ichart and tt values will be quite similar.

and as i checked ten years eod of nifty, rsi's OB & OS areas just give probability not surity. (its my observation, if wrong plz tell)

p.s.- rsi average in tt is main thing. average is just average of rsi values.