Date of Birth: June 11, 1929
Date of Death: August 28, 2019
Author: New Concepts in Technical Trading Systems
Creator: Average True Range (ATR), Relative Strength Index (RSI), Average Directional Index (ADX), and Parabolic SAR
J. Welles Wilder Jr. is best known for developing several technical indicators that are widely used by traders and investors today. His tools include the Average True Range (ATR), Relative Strength Index (RSI), and Parabolic SAR.
J. Welles Wilder Jr. Biography
J. Welles Wilder Jr. was an American mechanical engineer, financial analyst, and trader. He is best known for developing several technical indicators that are widely used by traders and investors today.
Wilder began his career as a mechanical engineer. Later became interested in the stock market and began studying technical analysis. In the 1970s, he developed several technical indicators. These include the Average True Range (ATR), Relative Strength Index (RSI), and Parabolic SAR. The tools are still widely used by crypto traders today.
Wilder also wrote several books on technical analysis, including “New Concepts in Technical Trading Systems.” The book was first published in 1978 and is still regarded as an important work on technical analysis. It is still regarded as an important work on technical analysis, and has influenced generations of traders and investors.
Wilder’s technical indicators have been incorporated into many trading platforms and charting software programs, such as TradingView and Optuma.
His approach to technical analysis emphasizes the use of indicators to identify trends and potential entry and exit points.
Wilder died in 2019 at the age of 90.
J Welles Wilder Jr Books
New Concepts in Technical Trading Systems
New Concepts in Technical Trading Systems, written by J. Welles Wilder, Jr., is a pioneering book in the field of technical analysis. The book is known for introducing many new and innovative trading concepts. Wilder’s book is a classic in the field and is still regarded as one of the most influential works on technical trading systems.
The book is divided into three parts. The first part provides an overview of the basic concepts of technical analysis, including charts, trends, and support and resistance levels. Wilder introduces his concept of the “Directional Movement System,” which is designed to identify trend strength and direction. He also introduces his concept of the “Average True Range.” The tool measures volatility and can be used to set stop-loss levels.
The second part is dedicated to new trading systems, including the “Parabolic Time/Price System,” the “Relative Strength Index,” and the “Composite Index.” Wilder provides detailed instructions on how to use each system, as well as guidelines for risk management and money management.
The third and final part of the book is devoted to practical applications of Wilder’s trading systems. Wilder provides examples of how his systems can be used to trade a variety of markets. He also provides guidelines for optimizing his trading systems for different market conditions.
J Welles Wilder Jr Quotes
“It is better to be out of the market wishing you were in, than to be in the market wishing you were out.”
-J. Welles Wilder Jr.
“The function of technical analysis is not to predict but to identify trends.”