according to past history ... this indicator recognizes overbought and oversold areas, how do you determine the area?
The Relative Strength Index (hereinafter we refer to it as RSI), has similarities to stochastic in terms of helping to recognize overbought and oversold conditions. This indicator was developed by J. Welles Wilder, Jr. and was introduced in 1978. Wilder junior himself is a mechanical engineer better known as a technical analyst who gave birth to several well-known technical indicators besides RSI.