Books for Technical Analysiss

No. When you say ARSI(13) it means 13-period ARSI.

Let me use an analogy. Below we have a series of numbers denoted by X and we want its 3-period moving average Y.

X Y = 3-period Simple Moving Average of X
X[ 1 ] = 100
X[ 2 ] = 105
X[ 3 ] = 104 Y[ 1 ] = ( X[ 1 ] + X[ 2 ] + X[ 3 ] ) / 3 = 103.00
X[ 4 ] = 110 Y[ 2 ] = ( X[ 2 ] + X[ 3 ] + X[ 4 ] ) / 3 = 106.33
X[ 5 ] = 99 Y[ 3 ] = ( X[ 3 ] + X[ 4 ] + X[ 5 ] ) / 3 = 104.33
X[ 6 ] = 102 Y[ 4 ] = ( X[ 4 ] + X[ 5 ] + X[ 6 ] ) / 3 = 103.67
X[ 7 ] = 100 Y[ 5 ] = ( X[ 5 ] + X[ 6 ] + X[ 7 ] ) / 3 = 100.33
X[ 8 ] = 107 Y[ 6 ] = ( X[ 6 ] + X[ 7 ] + X[ 8 ] ) / 3 = 103.00
X[ 9 ] = 108 Y[ 7 ] = ( X[ 7 ] + X[ 8 ] + X[ 9 ] ) / 3 = 105.00

If we apply the same logic, every succeeding value of ARSI depends on its preceeding ARSI. Hence we can assume, ARSI[1] as 0, then to calculate ARSI[2] would use ARSI[1], for ARSI[3] use ARSI[2], for ARSI[4] use ARSI[3], so on and so forth.

Hi,

These are the some best technical analysis books -

  1. Getting started in Technical analysis
  2. Japanese candlestick charting Techniques
  3. Technical Analysis of the Financial Markets
  4. Encyclopedia of Chart Patterns
  5. A Complete Guide To Volume Price Analysis
  6. How to Make Money in Stocks
  7. Technical Analysis from A to Z

I have taken the reference from Investopedia and Elearnmarkets.

Hope this helps!!

‘Getting started in Technical Analysis’ by Jack Schwager -

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