Support Board
Date/Time: Tue, 26 Nov 2024 22:30:12 +0000
RSI - Sierra vs other software
View Count: 2209
| [2020-07-19 02:10:33] |
| anewtrader72 - Posts: 3 |
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Hi. This question has been asked for some years so bear with me if I asked it again; I searched in the whole forum before posting it and I saw there has been no definitive answer for it. My understanding is the developers are not interested to compare their RSI with one from other tools/websites and this is understandable but I think the fact this question is asked over and over again means it's important for many people to get a resolutive answer. Shortly, I compared the RSI settings and outputs among Sierra, Tradingview, Investing and Barchart. Only Sierra gives a completely different output. I tried with RSI-W, as well, or RSI with different Average Types (e.g. Exponential Moving Avg). Same result. Apparently, there is no way to match exactly the other RSI outputs with the Sierra one. Reading the documentation has not helped either. I am attaching the screenshot from Sierra and TradingView for ES future 5 minutes. I hope it helps to understand what I mean. Date Time Of Last Edit: 2020-07-19 02:13:26
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 SierraChart.png / V - Attached On 2020-07-19 02:03:42 UTC - Size: 32.39 KB - 390 views TradingView.png / V - Attached On 2020-07-19 02:03:47 UTC - Size: 26.96 KB - 387 views |
| [2020-07-19 04:40:24] |
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How the RSI is calculated is fully documented here: RSI There is also a spreadsheet file there. There is simply nothing more we can say. One thing you should ask yourself, is the underlying data different. And examine that between Sierra Chart and the other program. And also the difference is of no relevancy. The calculations are fully documented and they are correct and the program follows those calculations. So you have an accurate calculation and that is what counts. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-07-19 12:17:17
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| [2020-07-19 04:52:53] |
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Additionally, in the case of when exponential moving averages are being used, refer to: Moving Average - Exponential There are some notes about this on that page. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-07-19 04:53:00
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| [2020-07-19 11:34:59] |
| anewtrader72 - Posts: 3 |
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Thanks for answering on Sunday. I have really appreciated it. That said, I am not happy with your reply. I work as a Devops. When I get a pointless answer I used to ask back "What problem did you think you solved with your answer?" Sometimes it helps, often not. IT guys are stubborn. In my initial post I already stated I have read the documentation so what is your point in giving me more documentation to read? Also, saying something like "our calculations are exact and we don't care about others (customers included)" is a kind of meh attitude. I am sorry to be mean but the point is that I am considering your software for my trading and of course I want to pay for it; are you interested to get me as a customer? Furthermore, my request seems to be pretty common so we are not talking to make just one customer happy. I don't care if the formula for the RSI indicator is something like 100 * coffee preparation time / my mother-in-law's age. That's not the point. So replying stating what the right formula is is just a waste of time, mine and yours. I just would like to have it as it seems to be calculated nowadays and possibly in Sierra chart and it seems to be a good software and I would like to use it. So my point is, please reconsider your answer and let me know if you can include this "common even if wrong" calculation of the RSI that nowadays seems to be used in your software. And sorry if I argued. |
| [2020-07-19 12:14:21] |
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are you interested to get me as a customer? Quite honestly no with the disregard that you have to our information we have provided. And with the extensive work we have invested over the years, with verifying formulas, and correcting them where necessary, and documenting them. Sierra Chart at this point, is an excellent reference for technical indicators.It is pointless for you to post further on this. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-07-19 12:23:50
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| [2020-07-19 12:48:11] |
| anewtrader72 - Posts: 3 |
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Good for you that you are using the best RSI formula in the world. It's really a pity it's outdated. Anyway, feel free to cancel my account, then. The "we are so good and can't care less of you" approach doesn't deserve any further comment. Farewell |
| [2020-07-19 22:51:49] |
| User90125 - Posts: 715 |
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Just use the RSI with the Exponential Moving Average (EMA) set. That's it. For some reason, Sierra sets the default on the non-Wilder RSI to Simple Moving Average (SMA)??? instead of the standard EMA, which most other charting services are using these days. However, if you want the RSI that matches the original Wilder RSI, just use the study RSI-W, or change the Moving Average on the non-Wilder RSI to Wilders Moving Average instead. Also, if you want RSI to match the Tradestation formula, use the study RSI-TS. |
| [2020-07-20 03:48:23] |
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But they did already use the RSI with the Average Type set to Moving Average-Exponential, as you can see in the first post. And thank you for reminding us about the Tradestation RSI version. We were thing about that, but did not have time to look into details of what we did on that. We will add that to the main list of studies. And also regarding the comment about Sierra Chart's highly customizable RSI being out of date, mathematical formulas do not become outdated. And there is no such thing as the best formula in the world. We never said that. We care to do things right, and we care to maintain efficient operations and not spend unnecessary time, so we can focus on other more important things. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-07-20 05:50:09
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| [2020-07-20 08:28:21] |
| User90125 - Posts: 715 |
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This is good to know. Not certain why the core RSI study still defaults to a non-standard, non-compliant Average Type set to Simple Moving Average though. Never understood that at all, and I've been using SC since 2007. |
| [2023-10-21 02:44:54] |
| User791263 - Posts: 151 |
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I've found SC's original RSI to be extremely good; I've used that RSI version in V2276/2348 in special ways... I find almost magical <--. I hope to keep that RSI in later releases; Please never change an existing long-used indicator, even if it is SC's version. |
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