J. Welles Wilder

As a graduate student of beginning, intermediate, and advanced statistics in the 1960s, I became quite familiar with rotary calculators. While reading this superb technical trading systems manual by Wilder, I could imagine myself back in the calculator lab sitting in front of a mechanical wonder (a Monroe IQ-213) with a pad of columned paper near at hand. When I learned computer programming in the 1970s, I was pleasantly surprised by how quickly my old paper, pencil, and mechanical tabulations could be converted into software algorithms. Modern programmers of charting software for technical analysis have surely benefited by Wilder's statistical handwork from a bygone but not forgotten era. If I were still active in programming technical analysis systems for today's stock market, Wilder's book would be my mentor. His book will take the reader who loves statistics, as I do, from awareness, to understanding, to mastery as quickly as keyboard skills will permit. Do you want to comprehend what Average True Range, the Relative Strength Index, Directional Movement, Parabolic Stop & Reverse, Pivot Points, and Volatility are really all about? Then read this book. It is foundational.… (mehr)