Relative Strength Index
Wilders Relative Strength Index, RSI, is a study that gives you another view of the price movement of a stock. It is a type of momentum oscillator.
An indication of a top in the price is signified by the RSI crossing above 70 and conversely a bottom in the price action is signified by the RSI dropping below 30. Different traders can use different values for these parameters.
Trade-Ideas provides access to the RSI as a filter. This allows you to easily combine the RSI with other alerts and conditions. For example, a momentum trader might look for our running up alerts, to find a strong trend. He could then set the “Max RSI” filter 80, so he won’t see alerts for stocks which are already overbought. The reverse case works just as well. Set the “Min RSI” filter to 20 to avoid oversold stocks when you are looking at running down alerts.