Technical indicators are a mathematical manipulation of a security price and/or volumes aimed at forecasting future price changes. Decisions about how and when to open or close positions can be made on the basis of signals from technical indicators. According to their functionalities, indicators can be divided into two groups: trend indicators and oscillators. Trend indicators help to assess the price direction and detect the turn moments synchronously or with a delay. Oscillators allow finding the turning moments ahead or synchronously.
Indicators are imposed into the chart from the "Navigator" window by means of the Drag`n`Drop technique, by execution of the "Insert — Indicators" menu command, or by pressing the button of the "Charts" toolbar. A technical indicator can be drawn in a separate indicator window that has a specific vertical scale (for example, MACD).
Or, it can be imposed directly into the price chart (for example, Moving Average).
At that, indicators can be drawn not only for price data and derivatives thereof (Median Price, Typical Price, Weighted Close) but also for other indicators. For example, Moving Average for Awesome Oscillator can be drawn, and a signal line can be obtained additionally to AO in this way. To do so, one has to draw the AO indicator first, and then, using the Drag`n`Drop technique, impose MA into AO and select the "Previous Indicator Data" option in its settings in the "Apply to" option. If the "First Indicator Data" option is selected, MA will be drawn on basis of data of the very first imposed indicator that can be other than AO.
Besides analytical parameters, one can set colors for various elements, the thickness of lines, and sizes of signs used, at the setting up of the indicator. Moreover, the visualization mode of the object for different timeframes can be changed in the "Visualization" tab. At that, indicators will be shown at the timeframes that have been selected. This function can be useful if the tool has different settings for different timeframes. Using the "Show in the Data Window" option in the same tab, one can control the visualization of information about indicators in the "Data Window".
All settings can be changed. To do so, one has to select the desired indicator in the "Indicators List" window and press the "Edit" button or execute the "Properties..." command of the indicator context menu.
The indicator context menu can be called by clicking with the right mouse button on a line, sign, or diagram of the desired indicator. To remove an indicator, one has to execute the "Delete Indicator" indicator context menu command or the "Delete Indicator Window" command in the chart or indicator context menus. The "Delete Indicator Window" command closes the indicator window.
Attention: Having placed cursor near a line, a sign, or a column border of an indicator histogram, one can determine the precise value of this given indicator at this point.