# 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 as 0, then to calculate ARSI would use ARSI, for ARSI use ARSI, for ARSI use ARSI, 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 -

This is a good book for novice traders as it helps one to get an understanding in technical analysis. This book will help one to chose trading systems, an entry and an exit point while trading and draw a plan for trading along with chart patterns and technical indicators. This is one of those kind of books that covers everything under one roof and can a be guide for new traders to become an experienced trader.

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