Bearish On Neck Line is a two candle continuation pattern occuring during a downtrend. The first candle gaps open lower and is long bodied and black. The second candlestick is small bodied and white, not closing above the low of the first candlestick.
Bearish Side by Side White Lines is a three candlestick continuation pattern occuring during an downtrend. The first candle is long bodied and black. The second candle gaps downward to open a lower open and is white. The third candle is white and opens and closes at about the same level as the second candle.
Developed by Welles Wilder and explained in his book, New Concepts in Technical Trading Systems, the Directional Movement Indicator can be used by itself or as a filter on a trend-following system. The DMI helps determine if a security is trending. In a DMI study, two lines are generated: +DI and -DI. The first line … Read more
Roger Altman introduced the Relative Momentum Index in 1993. The RMI is derived from the Relative Strength Index (RSI). While RSI counts up and down days from close to close, the Relative Momentum Index counts up and down days from the close relative to a close x number of days ago. Chart courtesy of Prophet … Read more
Jack Schwager is a celebrated author, analyst, trader and public speaker. His Market Wizards series have become classics in the world of trading literature. He is currently a managing director and principle of the Fortune Group, an alternative asset management specialist. He is also senior portfolio manager within the Global Fund Analysis team at the … Read more