Plotting The RSI Indicator
In addition to the TradeGuider indicators, it is possible to plot a number of technical analysis (TA) indicators to aid you in your decision making. A technical analysis indicator is a mathematical formula calculated using the underlying security’s price data. The results are usually plotted alongside the chart of the associative security and are used to “indicate” the present or future conditions of the security’s price.
The fastest way to plot an indicator is to use the Technical Analysis toolbar. As an example, we will plot an indicator called RSI, which is an abbreviation for Relative Strength Index:
Click RSI on the toolbar. The RSI Parameters dialogue is displayed.
For now, ignore the various properties and click the Apply button. The RSI indicator will be plotted below the chart, above the volume histogram.