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The concept of RSI emerged in 1978 in J. Welles Wilder, Jr.’s book, “New Concepts in Technical Trading Systems,” with the aim to help understand whether a stock was overbought or oversold.
The level of the RSI is a measure of the stock's recent trading strength. The slope of the RSI is directly proportional to the velocity of a change in the trend. The distance traveled by the RSI is proportional to the magnitude of the move. Wilder believed that tops and bottoms are indicated when RSI goes above 70 or drops below 30.
Trix is calculated with a given N-day period as follows: Smooth prices (often closing prices) using an N-day exponential moving average (EMA). Smooth that series using another N-day EMA. Smooth a third time, using a further N-day EMA. Calculate the percentage difference between today's and yesterday's value in that final smoothed series.
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The true strength index (TSI) is a technical indicator used in the analysis of financial markets that attempts to show both trend direction and overbought/oversold conditions.
Relative strength is a ratio of a stock price performance to a market average (index) performance. [1] It is used in technical analysis.. It is not to be confused with relative strength index.
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In his book, Trading for a Living, Alexander Elder suggested looking for reversal patterns in technical indicators such as RSI. This is an interesting variation on the 'magic number' overbought and oversold application. For example, a breakout from a double bottom on the RSI chart will often precede the breakout of a double bottom on the price ...