RSI technical indicator on IG markets

[FatFoss]

Hi, I am currently working via IG markets API to implement strategies based on the RSI signal. Does IG markets have a technical indicator library? Else, how does IG markets calculate their RSI levels. Have tried a few external libraries but values do not tally. 

Or perhaps, where does IG markets stream their RSI levels from?

 

Thank You,

[MongiIG]

35 minutes ago, FatFoss said:

how does IG markets calculate their RSI levels.

Hi @FatFoss

Thanks for reach out.

To calculate RSI, follow this equation:

RSI = 100 – 100/(1+(average up closes/average down closes))

The RSI calculation gives a figure between 0-100. Most analysts believe that an asset at around the 70 level is in overbought territory and may be in for a correction, while an asset at or near 30 is oversold and may be in for a rally.

IG RSI Indicator

 

Hope this helps!

All the best - MongiIG