Calculation of Relative Strength Index (RSI) for Bitcoin in Excel

The Relative Strength Index (RSI) is a popular technical indicator used to measure the strength of an asset price movement. In this article, we will guide you through the steps to calculate RSI for Bitcoin in Excel using historical price data.

What is RSI?

The RSI is calculated as the proportion of how much a price has changed (its 26 -period moving average) and its recent price change compared to the price change of the previous period. A strong low or high trend will result in a overloaded RSI reading, while a strong high trend will result in an excessive RSI reading.

Step by Step Instructions

• Open Excel : Open the Excel spreadsheet, where you want to calculate the RSI for Bitcoin.

• Configure columns : Set two columns A and B on your Excel spreadsheet with the following headers: “Data” (column A) and “close price” (column B).

• Create a new column

  

  : Create a new column (let’s call it c) that will store RSI values.

• Column (a).

• Calculate the recent price change : In cell E2, type the formula: = (b2-d2)*100 to calculate the recent price change.

• Calculate RSI : In cell F2, type the formula: = if ((E2/E1)> 0.8, (f2/f1)+((f2-f1)/f1)5, (1 -F2/F1))100 To calculate the relative force index (RSI) for bitcoin.

• Copy and necklace : Copy the formula in cell F2 and cole under the cell where you want to display the RSI.

Formulas or steps:

To accurately calculate RSI using historical price data, follow these steps:

• Set up a pivot table or use the “classification” function in Excel to calculate the 26 period of 26 period.

Use the formula = A2/A2+0.92 (B2-B1) to calculate the recent price change.

Use the formula= (B2-D2) 100to calculate the RSI.

Tips and variations

You can use different moving averages, such as 50 Period or 100 Period, changing the number in the formula (for example,= A2/A2+0.85 (B2-B1)).

You can use other formulas, such as= (B2-D2) 100or = (B2/B1)-(B2-B1)/B1)`, to calculate the RSI.

• You can also use excel supplements, such as the “smart” supplement, which provides more advanced technical analysis features.

Conclusion

Calculation of Relative Strength Index (RSI) for Bitcoin in Excel is a direct process that requires basic knowledge of excel formulas and moving averages. By following these steps and using the formula or steps provided, you can accurately calculate RSI for Bitcoin using historical price data.