Indicators

What are Indicator Blocks and how do they work

The Indicator Block is a powerful tool in the script builder that allows you to add various technical indicators to your trading strategy. These indicators can help you analyze market trends, identify potential entry and exit points, and make more informed trading decisions.

How it works:

• Adding an Indicator: When you add an Indicator Block to your strategy, you'll see a menu with a wide range of popular technical indicators to choose from.

Dragging and Dropping an Indicator Block onto the canvas

List of Indicators

• Customization: After selecting an indicator, you can customize its settings. This might include things like the time period, color, or specific parameters unique to that indicator.

Customization Settings for MACD Indicator

• Data Output: The Indicator Block calculates and provides data that can be used by other blocks in your strategy. For example, you might use the output of a Moving Average indicator to make decisions in a Condition Block.

• Flexibility: You can add multiple Indicator Blocks to your strategy, allowing you to combine different technical analysis tools.

Final MACD Indicator Block

Using Indicator Blocks:

• Trend Analysis: Use indicators like Moving Averages or MACD to identify market trends.

• Momentum: Indicators such as RSI or Stochastic Oscillator can help gauge market momentum.

• Volatility: Tools like Bollinger Bands or Average True Range (ATR) can provide insights into market volatility.

• Support and Resistance: Some indicators can help identify potential support and resistance levels.

Remember, while indicators are powerful tools, they work best when used in combination with other analysis methods and your own trading knowledge. Experiment with different indicators and settings to find what works best for your trading style and goals.