When the book was written, several traditional trading systems already existed. The book is full of creative and innovative trading concepts that can be used in the trading systems. Wilder's work has revolutionised the trading systems in all aspects. Though the tools and indicators like DMI, RSI, volatility breakouts, Parabolic, ADX and pivot point reversals that have been used in this book are commonly used in the present times, back in the year 1978 these indicators were quite uncommon. It is a widely known fact that several traders do little research on the indicators and their only focus is on the price and the volume. The book is noteworthy for its clear logic, the lucid discussions on the interpretation of the indicators and the detailed explanation of the logic of the formulae used. Wilder has done a good job in discussing the indicators very minutely and thoroughly, which would benefit the traders immensely. in this book, the author has put forward several important indicators such Directional Movement Index, Relative Strength Index, Parabolic SAR and many more that contribute to a meaningful technical analysis. New Concepts in Technical Trading Systems is a classic book which was published in 1978.
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