The default RSI formula is calculated based on: gains over the last 13 periods, the current gain, average loss over the last 13 periods, and current loss.  Swing traders may consider a common setting for the RSI indicator of a two- to seven-day lookback with the oversold threshold set at 30 and the overbought threshold set at 70. The inputs can be adjusted to work better with market conditions and individual trading setups.