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Classic Indicators

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Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
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NZD/USD
USD/CAD
USD/CHF
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Accounts: 4
Updates: 1 year
Support: Developer
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Relative Strength Index (RSI)

  • The RSI is a momentum oscillator that measures the speed and change of price movements.
  • It oscillates between 0 and 100, typically using a 14-day period.
  • Values above 70 indicate overbought conditions, while values below 30 indicate oversold conditions.
  • RSI can help identify potential reversal points and confirm trends.

    • Moving Average Convergence Divergence (MACD)

  • MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price.
  • It consists of the MACD line, the signal line, and the histogram.
  • A bullish signal occurs when the MACD line crosses above the signal line, and a bearish signal occurs when it crosses below.
  • MACD is useful for identifying changes in the strength, direction, momentum, and duration of a trend.

    • Bollinger Bands

  • Bollinger Bands consist of a middle band (a simple moving average) and two outer bands (standard deviations above and below the middle band).
  • They help identify overbought and oversold conditions and measure market volatility.
  • When the price moves closer to the upper band, the market is considered overbought; when it moves closer to the lower band, it is considered oversold.
  • Bollinger Bands can also indicate the beginning of a trend when the bands widen, and a period of consolidation when they narrow.

    • Stochastic Oscillator

  • The Stochastic Oscillator compares a particular closing price of a security to a range of its prices over a certain period of time.
  • It oscillates between 0 and 100, with readings above 80 indicating overbought conditions and readings below 20 indicating oversold conditions.
  • The indicator consists of two lines: %K (the current closing price relative to the price range) and %D (a moving average of %K).
  • Crossovers between %K and %D lines can signal potential buy or sell opportunities.

    • Parabolic SAR

  • The Parabolic SAR (Stop and Reverse) is used to determine the direction of an asset’s momentum and the point in time when this momentum has a higher-than-normal probability of switching directions.
  • It appears as a series of dots placed either above or below the price bars.
  • A dot below the price indicates a bullish signal, while a dot above the price indicates a bearish signal.
  • Parabolic SAR is particularly useful for setting trailing stop losses.

    • Ichimoku Cloud

  • The Ichimoku Cloud, or Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum, and provides trading signals.
  • It consists of five lines: Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B, and Chikou Span.
  • The space between Senkou Span A and B forms the "cloud," which is used to identify trend direction and potential support/resistance levels.
  • Prices above the cloud indicate an uptrend, while prices below the cloud indicate a downtrend.

    • Commodity Channel Index (CCI)

  • The CCI measures the current price level relative to an average price level over a given period of time.
  • It oscillates between positive and negative values, with readings above +100 indicating overbought conditions and readings below -100 indicating oversold conditions.
  • CCI can be used to identify cyclical trends in a security.
  • It is particularly useful for spotting reversals and divergences from the price trend.

    • Fibonacci Retracement

  • Fibonacci Retracement levels are horizontal lines that indicate where support and resistance are likely to occur.
  • They are based on the Fibonacci sequence and are used to predict the potential reversal levels of a price move.
  • Common retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 100%.
  • Traders use these levels to identify potential entry and exit points.

    • Support and Resistance Levels

  • Support levels are price points where a downtrend can be expected to pause due to a concentration of demand.
  • Resistance levels are price points where an uptrend can be expected to pause due to a concentration of supply.
  • These levels are identified by previous price action and are used to make trading decisions.
  • They help traders determine potential entry and exit points and manage risk.

    • Candlestick Patterns

  • Candlestick patterns are used to predict the future direction of price movement based on historical price data.
  • Common patterns include Doji, Hammer, Hanging Man, Bullish Engulfing, Bearish Engulfing, Morning Star, Evening Star, Piercing Line, Dark Cloud Cover, Three White Soldiers, and Three Black Crows.
  • These patterns provide visual cues that help traders make informed decisions.
  • Candlestick patterns are often used in conjunction with other technical indicators to confirm trading signals.

    • Conclusion

  • Classic indicators are essential tools for traders to analyze market conditions and make informed trading decisions.
  • Each indicator has its unique strengths and is best used in combination with others to provide a comprehensive view of the market.
  • By understanding and utilizing these indicators, traders can enhance their trading strategies and improve their chances of success.

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