I decided that i would try and calculate a bunch of stuff in excel based on EURUSD hourly closes to run some statistics based on tendencies of prices at different RSI levels. I used 14 previous closes in my calculation. I went back to my OANDA MT4 practice account to see what the indicator give me to make sure im comparing apples to apples and i found that the indicator that came with MT4 is giving me a different result.
To save some questions. I pulled the hourly history from Oandas feed of MT4
The calculation that i used in excel is RSI = 100- 100/(1+RS)
Below is an image of what is going on. Notice that the RSI doesnt match with the RSI from my excel sheet(the number calculated on the bottom right). It clearly hits 70 but on the MT4 feed the RSS never hits 70. Any advice? Maybe the indicator uses a different calculation based on the RSI calculation above?
http://i47.tinypic.com/25ppund.png
To save some questions. I pulled the hourly history from Oandas feed of MT4
The calculation that i used in excel is RSI = 100- 100/(1+RS)
Below is an image of what is going on. Notice that the RSI doesnt match with the RSI from my excel sheet(the number calculated on the bottom right). It clearly hits 70 but on the MT4 feed the RSS never hits 70. Any advice? Maybe the indicator uses a different calculation based on the RSI calculation above?
http://i47.tinypic.com/25ppund.png