Relative Strength Index (RSI) is calculated using the standard formula in MKC. The formula is:
RSI = 100 - (100 / (1 + RS)) RS = Average Upward Closes / Average Downward Closes
Where,
Average Upward Closes is the average of upward price changes over some time.
Average Downward Closes is the average of downward price changes over some time.
Lookback period, smoothing, and overbought/oversold level are some parameters that users can customize.