Relative Strength Index (RSI) Stock Screener

The RSI, introduced in 1978, is a highly popular and widely used technical indicator in global financial markets, particularly in the stock market, making it one of the most commonly employed tools in technical analysis

9 minutes

This post focuses on customizable Relative Strength Index (RSI) factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.

Display Relative Strength Index (RSI) Values

List symbols
Add Column Relative Strength Index(14) as RSI
Apply to NSE

The purpose of this scan is to determine and present the 14-period Relative Strength Index (RSI) values for all symbols. By default, the RSI is calculated based on the “Close” data.

OPTION 1

Below, you will find a compilation of Relative Strength Index values with multiple periods. Please note that we will refer to it as RSI instead of the full term “Relative Strength Index.” Additionally, we have also included the calculation of the ChartAlert variant of RSI.

List symbols
Add Column RSI(14) as RSI14
Add Column RSI(21) as RSI21
Add Column RSICA(14) as RSICA14
Apply to NSE

OPTION 2

Retrieving the RSI values for the previous 3 bars.

List symbols
Add Column RSI(14) as RSI
Add Column RSI(14) a bar ago as RSI_1
Add Column RSI(14) 2 bars ago as RSI_2
Apply to NSE

OPTION 3

To calculate the RSI using a different data array, such as the Exponential Moving Average (EMA) of the “Close” prices, you need to modify the scanning process. By default, RSI is calculated based on the “Close” values. Here’s how you can adjust the scan:

List symbols
Add Column RSI(14,EMA(10)) as RSI_of_EMA
Apply to NSE

Relative Strength Index (RSI) in Overbought Zone [14,>70,3]

Tags: RSI overbought stock screener, stock screener RSI above 60

List symbols where RSI(14) has been above 70 for the last 3 bars
Add Column RSI(14) as RSI
Add Column RSI(14) 1 bar ago as RSI14_1
Add Column RSI(14) 2 bars ago as RSI14_2
Apply to NSE

The purpose of this scan is to identify NSE symbols that exhibit a 14-period RSI value above 70 consistently over the past 3 bars. The scan generates an output report that includes the 14-period RSI values for the last 3 bars of each identified symbol.

To look for RSI above 60, just replace the opening line with:

List symbols where RSI(14) has been above 60

OPTION 1

To identify symbols exhibiting an RSI in the Overbought Zone, modify the initial scan as outlined below:

List symbols where RSI(14) > 70
Add Column RSI(14) as RSI
Add Column RSI(14) 1 bar ago as RSI14_1
Add Column RSI(14) 2 bars ago as RSI14_2
Apply to NSE

Relative Strength Index (RSI) in Oversold Zone [14,<30,3]

Tags: RSI oversold stock screener, stock screener RSI below 40, stock screener RSI below 20

List symbols where RSI(14) has been below 30 for the last 3 bars
Add Column RSI(14) as RSI
Add Column RSI(14) 1 bar ago as RSI14_1
Add Column RSI(14) 2 bars ago as RSI14_2
Apply to NSE

The purpose of this scan is to identify NSE symbols with a 14-period RSI that has consistently stayed below 30 for the past 3 bars. The output scan report includes the 14-period RSI values for the last 3 bars of each symbol.

To look for RSI below 20, or RSI below 40, just replace the opening line with:

List symbols where RSI(14) has been below 20
List symbols where RSI(14) has been below 40

OPTION 1

To search for symbols exhibiting the Oversold Zone based on the RSI, modify the initial scan in the following manner:

List symbols where RSI(14) < 30
Add Column RSI(14) as RSI
Add Column RSI(14) 1 bar ago as RSI14_1
Add Column RSI(14) 2 bars ago as RSI14_2
Apply to NSE

Overbought with a Declining Relative Strength Index (RSI) [14,70,3]

Tags: RSI overbought stock screener, stock screener RSI below 70

List symbols where RSI(14) has crossed below 70 after remaining above for 3 bars
Add Column RSI(14) as RSI14
Apply to NSE

The purpose of this scan is to identify symbols in which the 14-period RSI has recently crossed below the 70 level, following a sustained period of being above 70 for 3 bars. The output scan report also includes the 14-period RSI for reference.

Oversold with an Improving Relative Strength Index (RSI) [14,30,3]

Tags: RSI oversold stock screener, stock screener RSI above 30

List symbols where RSI(14) has crossed above 30 after remaining below for 3 bars
Add Column RSI(14) as RSI14
Apply to NSE

The purpose of this scan is to identify symbols in which the 14-period RSI has recently crossed above the 30 level after staying below it for 3 consecutive bars. Additionally, the output scan report includes the 14-period RSI value for each symbol.

Relative Strength Index Moving Average Bullish Crossover [14,3,EMA]

Tags: RSI moving average crossover bullish

List symbols where RSI(14) has crossed above EMA(3,RSI(14)) after remaining below for 3 bars
Add Column RSI(14) as RSI14
Add Column EMA(3,RSI(14)) as EMA3_RSI14
Apply to NSE

The purpose of this scan is to identify symbols where the 14-period RSI has recently crossed above the 3-period Exponential Moving Average (EMA) of the indicator, following a period of being below the EMA for three bars. Additionally, the scan report will include the values of the 14-period RSI and the Moving Average.

OPTION 1

Include an additional filter that verifies whether the RSI(14) remains below 30 (indicating an oversold zone):

List symbols where RSI(14) has crossed above EMA(3,RSI(14)) after remaining below for 3 bars And RSI(14)<30
Add Column RSI(14) as RSI14
Add Column EMA(3,RSI(14)) as EMA3_RSI14
Apply to NSE

OPTION 2

To modify the Moving Average type, just replace “EMA” with “SMA” for Simple Moving Average. In the following example, the Simple Moving Average is utilized, so “EMA” has been substituted with “SMA.” Additionally, this scan solely focuses on detecting crossovers without considering their position before the occurrence.

List symbols where RSI(14) has crossed above SMA(3,RSI(14))
Add Column RSI(14) as RSI14
Add Column SMA(3,RSI(14)) as SMA_RSI14
Apply to NSE

Relative Strength Index Moving Average Bearish Crossover [14,3,EMA]

Tags: RSI moving average crossover bearish

List symbols where RSI(14) has crossed below EMA(3,RSI(14)) after remaining above for 3 bars
Add Column RSI(14) as RSI14
Add Column EMA(3,RSI(14)) as EMA3_RSI14
Apply to NSE

The purpose of this scan is to identify instances where the 14-period RSI has recently crossed below the 3-period Exponential Moving Average (EMA) after staying above it for three consecutive bars. The scan report will include the values of both the 14-period RSI and the Moving Average.

OPTION 1

Include an additional filter that verifies whether the RSI(14) remains above 70, indicating the overbought zone:

List symbols where RSI(14) has crossed below EMA(3,RSI(14)) after remaining above for 3 bars And RSI(14)>70
Add Column RSI(14) as RSI14
Add Column EMA(3,RSI(14)) as EMA3_RSI14
Apply to NSE

OPTION 2

To modify the Moving Average type, you can easily switch “EMA” to “SMA” for Simple Moving Average. In the provided example, the Simple Moving Average is utilized, hence “EMA” has been substituted with “SMA”. Moreover, this scan solely focuses on identifying a crossover, disregarding its position before the occurrence.

List symbols where RSI(14) has crossed below SMA(3,RSI(14))
Add Column RSI(14) as RSI14
Add Column SMA(3,RSI(14)) as SMA_RSI14
Apply to NSE

Relative Strength Index (RSI) Bullish Divergence

Tags: RSI divergence stock screener bullish

List symbols where pattern is Bullish Divergence RSI
'Plot RSI(14)
Apply to NSE

The purpose of this scan is to identify NSE symbols that display a traditional bullish RSI divergence. By default, a 14-bar time period is employed to detect this divergence. The price’s high and low values are analyzed to determine the presence of divergence, with a minimum requirement of 5 bars.

To look for hidden divergences, look at the option below.

OPTION 1

To detect hidden divergence on a 21-period RSI, modify the initial scan as follows. In this case, the closing price is utilized. The output report will also include the calculated value of RSI(21):

List symbols where pattern is Bullish Divergence RSI(21, Hidden, 5, Close)
Add Column RSI(21) as RSI21
Apply to NSE

Relative Strength Index (RSI) ‘Custom’ Bullish Divergence

Tags: RSI divergence stock screener bullish custom parameters

List symbols where pattern is Bullish Divergence(RSI(21))
Add Column RSI(21)
Apply to NSE

This scan is designed to identify NSE symbols that display a bullish divergence of the 21-period RSI.

It is important to acknowledge that there may be variances between the results generated by this scan and those obtained from a dedicated RSI bullish divergence scan, such as the Bullish Divergence RSI(21), as the latter incorporates additional built-in filters.

Moreover, it is worth noting that divergences can be detected in any indicator through scanning processes.

Relative Strength Index (RSI) Bearish Divergence

Tags: RSI divergence stock screener bearish

List symbols where pattern is Bearish Divergence RSI
'Plot RSI(14)
Apply to NSE

This scan is designed to identify NSE symbols that demonstrate a classic bearish RSI divergence. By default, a 14-bar time period is utilized to detect such a divergence. The divergence is determined based on the high and low points of the price, with a minimum requirement of 5 bars.

To look for hidden divergences, look at the option below.

OPTION 1

To identify hidden divergence within a 21-period RSI, it is necessary to modify the provided scan as follows. In this case, the closing price is employed. Additionally, the output report will include the calculated RSI(21) value.

List symbols where pattern is Bearish Divergence RSI(21, Hidden, 5, Close)
Add Column RSI(21) as RSI21
Apply to NSE

Multiple Bearish Divergences (RSI & OBV)

Tags: RSI divergence stock screener bearish multiple indicators

List symbols where pattern is Bearish Divergence RSI and pattern is Bearish Divergence OBV
Add Column RSI(14)
Add Column OBV
Apply to NSE

This scan is designed to identify NSE symbols that display a bearish divergence in both RSI and On-Balance Volume (OBV) indicators.

For comprehensive insights into the Relative Strength Index (RSI), including its calculation methodology, effective utilization in trading, applicability to both trading and investing purposes, as well as an exploration of its advantages and limitations as an indicator, click here.

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