The calculator can calculate RSI using any of the 3 most common methods.
The methods differ in the exact formula for average up and down moves (the second step in RSI calculation).
The 3 methods are:
The calculation methods are explained in chapter 4 of the PDF guide.
You can set any period length on any of the calculation methods.
Note: The original RSI as introduced by J. Welles Wilder Jr. is Wilder's method with period length equal to 14.
The PDF guide provides detailed instructions and notes for using the calculator. It also provides detailed explanation of RSI calculation, the differences between individual calculation methods, the effect of parameters, and interpretation of RSI values. You can find an overview of the contents below:
The main calculation sheet. You can calculate up to 3 different RSI indicators at the same time (columns K-M).
Here you can set parameters of the RSI. You can choose from the 3 common calculation methods (simple moving average, exponential moving average, and the original Wilder's smoothing). You can set any period length in the yellow cells (K8-M8).
The chart sheet displays 2 charts: the upper chart with price and the lower chart with the indicators.
Here you can set which of the indicators to display. Chart scales are adjusted automatically by a macro.
The sheet where you enter data. Pushing the button on the right will sort the data from oldest to newest, import it into the calculation sheet, and build formulas. The macro will also check your data for any errors, such as missing prices or non-numeric cells.
The default version of the calculator uses Excel macros to make it convenient and easy to use. If you can't or don't want to use macros, there is also a macro-free version available.
|RSI_Calculator.xlsm||= the default version (all features, easiest to use)|
|RSI_Macro-Free.xlsx||= macro-free version (if you can't use macros)|
|RSI_for_Excel_97-2003.xls||= Excel 97-2003 version|
|RSI_for_Excel_97-2003_Macro-Free.xls||= macro-free Excel 97-2003 version|
Every user gets access to all versions plus the PDF guide.
If you have any questions, please do not hesitate to ask me.