Technically Speaking Archives
Technical Indicators & Overlays
In this issue’s Feature article, we discuss using relative strength analysis to pick exchange-traded funds ( . This is just one example of a relative strength indicator.
Another relative strength measure, the relative strength index, was developed by J. Welles Wilder in 1978. This widely used momentum indicator is called an oscillator because it moves, or oscillates, between two fixed values based on the price movement of the underlying security or index. However, the RSI is an internal measure of price strength and does not compare price action to an index or other security.
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