The International Journal of Applied Economics and Finance1991-08862077-2149Asian Network for Scientific Information10.3923/ijaef.2012.53.63ShahjalalM. SultanaAbeda MitraNirmal Kanti KhanA.F.M. Khodadad 2201262Technical indicators are used in the stock and the currency markets for buying and selling decisions. The aim of this study was to develop a fuzzy rule based technical indicator for stock markets. Generalized volumes and generalized prices are used as linguistic variables. The Z-shaped, S-shaped and Triangular fuzzy numbers are used in this study. Success rates have been tested by real time trading and backward testing method. This fuzzy rule based indicator indicates a buy, hold or sell signal. The signals are agreed well with the classical technical indicators.]]>Achelis, S.B.,20012nd Edn.,Pages: 308Pages: 308Dashore, P. and S. Jain,2010219731979Ganesh, M.,2009Giovanis, E.,201064660667Hellendoorn, H. and C. Thomas,19931109123Kwasnicka, H. and M. Ciosmak,20012001pp: 195208Mamdani, E.H. and S. Assilian,19757113Ravichandran, K.S., P. Thirunavukarasu, R. Nallaswamy and R. Babu,200534454Thirunavukarasu, P.,20091123134Ross, T.J.,1995Pages: 600Pages: 600Zhou, X.S. and M. Dong,2004605475Gamil, A.A., R.S. El-Fouly and N.M. Darwish,20072007pp: 142147