RSI or Relative Strength Index is one of the parameters to know whether the stock is good to buy or not, or if the stock is good to sell. Now I have created a Video earlier where I talked about how we can find the RSI of a stock. The formula to calculate Relative Strength Index is RSI = 100 – [100 / {1 + (Average of Upward Price Change / Average of Downward Price Change}].
Now using this formula we can actually calculate the Daily, Weekly and Monthly RSI. The only thing is that for daily we take daily close Price, weekly we have to take weekly close Price and for monthly we take monthly close Price. And then using the above formula we calculate the Daily, Weekly and Monthly RSI.
In the above video, I have shown how we can calculate the RSI of Nifty 500 stocks. I have also created 4 sheets, 1 for Daily RSI Caculation, 1 for Weekly and 1 for Monthly. I have also created a combined sheet but the problem is since there are a lot of calculation involved it takes a lot of memory and cpu and that's why I have created separate sheet for every calculation.
This was also a request from some of the comments added in the first video. So after 6 months I have created the video creating the RSI of all the three. Now you might ask what is use of getting RSI of weekly and monthly. Now if someone wants to know whether the more time period the stock is in overbought zone or overbought zone then its the best way to know using the Weekly and Monthly RSI. And that's why I have created these sheets so that it is helpful for people to get the values.
