This is a calculator for the 2 day RSI. This calculator enables you to enter an RSI value and stock or ETF symbol. The output tells you what price the stock or ETF will have to close at, to get the desired 2 period RSI reading.
For example if you trade a strategy that will exit a position at the close if the 2 day RSI closes above 50, you would simply enter 50 in the “Enter Desired Levels” box and enter the stock symbol in the “Enter symbol” box then click go. The calculators output will then tell you the last close and current 2 day RSI reading based on the prior day, the box that reads “close @” gives you the level that the stock will need to be at, for the 2 period RSI to be at 50.
After you have this information you can then enter a “limit on close” order using the “close @” price. A limit on close order will be executed at the close only if the close is above for sells or below for buys , the specified limit level.