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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.
The number helps gauge whether the price of a stock is on the rise or on the decline.
13 The Dow first traded above 10,000 on Tuesday, March 16, 1999, but dropped back before closing that day. The Dow closed at 9,997.62 on Thursday, March 18, 1999. [18] It would take nearly two weeks to close above 10,000 on Monday, March 29, 1999. 14 This was the Dow's close at the peak on January 14, 2000, before the dot-com crash.
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Resistance – a price level that may act as a ceiling above price; Support – a price level that may act as a floor below price; Trend line – a sloping line described by at least two peaks or two troughs; Zig Zag – This chart overlay that shows filtered price movements that are greater than a given percentage.
Williams used a 10 trading day period and considered values below −80 as oversold and above −20 as overbought. But they were not to be traded directly, instead his rule to buy an oversold was %R reaches −100%. Five trading days pass since −100% was last reached %R rises above −95% or −85%. or conversely to sell an overbought condition
The proposed change will only create confusion: The Relative Strength Index, or RSI, as first described by Welles Wilder in 1978, is a normalized comparison of positive and negative price changes for a single time series, while a relative strength index is a relative performance comparison of two time series.
Note that the distribution's mode will lie with p N-2 's weight, i.e. in the graph above p 8 carries the highest weighting. An N of 1 is invalid. The easiest way to calculate the triple EMA based on successive values is just to apply the EMA three times, creating single-, then double-, then triple-smoothed series. The triple EMA can also be expressed directly in terms of the prices as below ...