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I would like to know on whether RSI(70) on daily chart equal to RSI(14) on weekly chart?
Does anyone have any suggestions?
Thanks in advance for any suggestions
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Hi,
While they would cover roughly the same length of time, there would be significant calculation differences. In addition to smoothed/exponential calculations carrying part of their history forward as they calculate, you would have significantly more data points within the time frame analyzed. Consider that for every single weekly Close price analyzed with RSI(14), there are five Daily Close prices analyzed with RSI(70).
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Rank: Advanced Member
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Originally Posted by: MS Support  Hi,
While they would cover roughly the same length of time, there would be significant calculation differences. In addition to smoothed/exponential calculations carrying part of their history forward as they calculate, you would have significantly more data points within the time frame analyzed. Consider that for every single weekly Close price analyzed with RSI(14), there are five Daily Close prices analyzed with RSI(70).
If I want to get RSI (weekly value) on daily chart, and I don't need to get exactly values, and would accept with 10% error such as if RSI (weekly) is 55 then it shows (50 ~ 60) on daily chart,
Do you have any suggestions?
Thanks you very much for any suggestions
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Hi oem
The most accurate way to get weekly RSI (and many other functions or indicators) values is to use the appropriate Multi-Frame indicator. EOD charts can display M-F timeframes of daily, half-weekly (with the split at either Tuesday or Wednesday), weekly, fortnightly, monthly, 2 monthly, quarterly, 4 monthly, 6 monthly or annually. These options are split across the D and D+ Multi-Frame series. Each series has around 150 indicators with a mix of basic MetaStock functions and custom indicators. If you email me at rlarsen@quik.co.nz I'll send you the code for the "Multi-Frame D RSI" indicator. At the very least that should allow you to make comparisons between daily and weekly versions of RSI.
Roy
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 1 user thanked mstt for this useful post.
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Rank: Advanced Member
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Thank you very much for suggestions :>
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