Technical Analysis -Part 1
RSI- Relative Strength Index · It is one of the most effective and most used technical tool of stock market developed by J. Welles Wilder Jr . and introduced in his seminal 1978 book, "New Concepts in Technical Trading Systems." · It is classified as momentum indicator because it measures the velocity and magnitude of price movements . It helps to analyze the strength and weakness of stock or market based on the closing prices of recent trading periods. · It has a measurable scale from 0 to 100 . There are some default level marked on this scale like 30 and 70 as low and high level which can be changed by the user according to their use and perception. · By default it has 14 days time frame which again can be changed by the user as per their convenience. · ...