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✨Indicators?
Indicators are tools used in technical analysis, which help you analyze future prices based on historical data from a specific period. Each indicator is created using a formula that converts a data set into charts, lines and other graphical elements that are displayed on or alongside price charts. These elements provide traders with useful insights to make informed decisions.
🔛Activating Indicators
When activating an indicator on your trading account, the lines and charts will appear on your trading preview giving a clear vision of the analytics, each indicator with its own colour.
📝Indicators on the platform?
1. SMA
The Simple Moving Average is calculated using a basic formula that determines the average asset price for a selected period. This helps to identify trends and clearly show when they will end.
SMA is a versatile indicator used with other indicators or alone. If it's rising, trend is bullish. Open up trades. If it's falling, trend is bearish. Open down trades. When chart crosses indicator upwards, it signals uptrend. When chart crosses downwards, it signals downtrend.
2. EMA
The Exponential Moving Average is a kind of Moving Average indicator that helps to determine the strength of a trend and its reversal points. But, unlike SMA, it sends more accurate and timely signals, while the SMA can be late.
The best time to open a trade is when the asset price reverses. This is indicated by a change in the EMA line’s direction and it crossing the chart’s candlestick. When the EMA line reverses and goes up and the chart’s candlestick crosses the indicator going upward, this is probably signaling an uptrend.
3. WMA
Weighted Moving Average is a useful tool that assigns different weights to each price. The recent price is given the highest weight, while the previous prices are given relatively lower weights. This makes it more dynamic than SMA and allows it to respond more quickly to recent price changes and lag less.
4. Parabolic SAR
The Parabolic SAR is an indicator that tracks the trend of the price and identifies the potential reversal point in its price channel. SAR is an acronym for "stop and reverse." The indicator is represented by a sequence of dots that appear above or below the price chart, indicating the bullish or bearish trend of the price.
5. Bollinger Bands
Bollinger bands are an indicator that shows the direction of a trend and helps find the trend reversal point. The basic principle for trading with this indicator is, therefore, trading on a trend reversal.
6. Ichimoku Cloud
It is a comprehensive trend indicator that helps traders identify the direction and strength of a price trend. It comprises of five lines that operate similarly but use different types of moving averages. This structure generates multiple signals simultaneously, which helps traders find high-accuracy entry points in the market.
7. Alligator
The Alligator is a technical indicator consists of three modified moving average lines: the blue line is called the Jaw, the red line is called the Teeth, and the green line is called the Lips. When these lines cross, they give signals to open trades with a corresponding forecast. Together, these lines form the Snout of the Alligator.
8. ZigZag
The ZigZag indicator is a tool used to analyze the movement of an asset's price. It is important to note that it does not predict the future behavior of the price. Rather, the ZigZag indicator displays how the price has changed in the past by indicating the direction of trends and their reversal points. The indicator appears as an unbroken line that resembles a zigzag, hence its name.
9. Donchian Channel
The Donchian Channel, a trading indicator developed by Richard Donchian, is created by identifying the highest and lowest prices over a chosen time period.
10. Sentiment
Sentiment is an indicator that displays the ratio of all open trades for a particular asset. The indicator line consists of two segments: red and green. The red segment on the indicator line represents the percentage of traders opening DOWN trades, while the green segment represents the percentage of traders opening UP trades. Sentiment is also known as Traders' Choice, as it shows the preferred trading direction of traders.
11. Pivot Points. (Paid)
The Pivot Points indicator uses well-known mathematical methods like "Pivot," "Camarilla," "Fibonacci," "Woody," and "DM" to identify trend reversal points. It marks the chart with lines that indicate support and resistance levels, making it a powerful tool for investors of any level and trading style. By using this indicator, you can easily determine the price benchmark for closing a trade on Forex.
12. Bill Williams' Fractals (Paid)
One of the most reliable indicators to analyze the market trend and to confirm Bill Williams, a trading legend, invented a shift in it. This tool displays the highs and lows of the chart, which helps traders identify the trend more accurately. For instance, if the lows are declining steadily, it indicates a market dominated by bears, suggesting it may be a good time to make a down trade.
📌Does using indicators guarantee the trading results?
You have the option to decide whether or not to execute a trade according to the indicator. It's super easy! But super sensitive to know that indicators help with analytics but do not guarantee the results that might be affected by a lot of factors. Market add-ons are for informational and analytical purposes only. They should not be construed as investment advice or recommendations and you should do your own research and analysis.
👔Subscription steps
You can get the paid indicators through "Trader's Way" or through buying it in "Market" section.
- At the left-sidebar, choose "Market," then scroll down and choose "Indicator."
- Choose the indicator you want to use on the platform.
- Choose whether you want to subscribe or try for free.
- Choose the sub-account you want to subscribe through. And turn on/off auto-renewal.
- Done. Now you can enjoy your indicator.
❌Cancellation steps
Once you subscribe to an indicator, it won't be canceled till the end of the month. But you can cancel the auto-renewal at any time unless 24 hours before the renewal date.
- On your homepage, choose "Market" then "My purchases and rewards."
- Choose the indicator you want to cancel.
- Turn off auto-renewal.
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