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In previous articles on the three forex technical studies that we are exploring in this article series, we have established that MACD, RSI, Bollinger Bands and Stochastic Oscillator are four commonly used technical indicators across the world and that their use on daily timeframe can help to confirm intraday signals. This article continues the series by discussing the Relative Strength Index, put together originally in the 70's by one J Welles Rider.

J Welles Riders Relative Strength Index is an oscillator that gives indication of momentum of a security. The greatness of recent gains are compared with the size of recent losses. It must be noted that this is a different concept to relative strength which measures an individual stock or funds performance related to to a benchmark index such as the NASDAQ or DJIA. Let's now explore the Relative Strength Index as it may be used in the forex market.  Read more...