RSI is an extremely popular momentum indicator developed by J. Welles Wilder.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI is considered overbought when above 70 and oversold when below 30. Signals can also be generated by looking for divergences, failure swings, and centerline crossovers. RSI can also be used to identify the general trend.
Wilder features RSI in his 1978 book, New Concepts in Technical Trading Systems.
Duration 30 minutes.