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Chris Evans asked:
>If I want to use and look at the EOD value of RSI on a 60 minute
>chart so I changed the Price field to CloseD(1) but the RSI value
>seems to be different if I look at a 15 minute chart vs. a 30
>minute which is different than the value in a 60 minute (etc.)
>Why?
There are two things you should be aware of.
1. RSI is different for different time resolutions. RSI can be
thought of as a rate of change indicator. A 10-bar RSI of a 60
minute chart covers far more time than a 10-bar RSI of a 15 minute
chart (10 hours versus 2.5 hours), so naturally the speed at which
the market changes will have a different result over those different
time ranges.
2. Be careful using HighD, LowD, and CloseD on 24-hour data. If
you look at the source code for HighD, LowD, and CloseD, you'll see
that they are only intended to be used when your charts contain
day-session data only, and nothing else.
--
,|___ Alex Matulich -- alex@xxxxxxxxxxxxxx
// +__> Director of Research and Development
// \
// __) Unicorn Research Corporation -- http://unicorn.us.com
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