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Microcap & Penny Stocks : Teletek: Big Earnings About To Be Posted
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To: Tech Bull who wrote (873)4/21/1996 6:16:00 PM
From: Jim Ball   of 1014
 
Tech Bull,

RSI = 100 - 100/1+RS

RS = ave of net UP closing changes for a selected number of
days DIVIDED BY ave of net Down closing changes for
the same number of days

Take the following steps to calculate a 7-day RSI:

1. Obtain closing prices for the past 7 days.
2. Find all days where the market closed higher than the
day before and add up the amounts of increases. Divide
the sum by 7 to obtain the average UP closing change.
3. Find all days where the market closed lower than the
day before and add up the amounts of declines. Divide
the sum by 7 to obtain the average DOWN closing change.
4. Divide the average UP closing change by the average DOWN
closing change to obtain Relative Strength (RS). Insert
RS in the formula above to arrive at RSI.
5. Repeat process daily.

Once you have 7 days worth of data replace steps 2 and 3 on all following days:

2. Multiply yesterday's average UP closing change by 6, add
todays UP closing change, if any, and divide the total
by 7. That is your new average UP closing change.
3. Multiply yesterday's average DOWN closing change by 6,
add todays DOWN close if any, and divide the total by 7.
That is your new average DOWN closing change. Then
proceed back to step 4.

RSI fluctuates between 0 and 100. When RSI reaches a peak and turns down, it identifies a top. When RSI falls and then turns up it identifies a bottom.

This information is contained in the book "Trading For A Living" by Dr. Alexander Elder

Closing prices and volume information can be obtained from the following Web site - TeleStock:

http:www.teleserv.co.uk/scripts/stksys.exe?HF=e_preq.htm&SL=TLTK.y

Jim
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