Over the years,friends who are traders have often asked me how I can quickly determine a trend when looking at a chart. My answer is that I have examined tens of thousands of charts.However,one fundamental indicator I faithfully use is the Relative Strength Index (RSI). The RSI was developed by Welles Wilder, Jr.and presented in his 1978 book, New Concepts in Technical Trading Systems.Welles developed the RSI for trading pork bellies. My belief is that a valid indicator will work in all markets, and in all time periods.
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