Indicators for Technical Analysis

A technical indicator is a mathematical transformation 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 produced by technical indicators. Indicators can be divided into two groups based on their functional properties: trend indicators and oscillators. Trend indicators help to assess the price direction and detect the reversal moments synchronously or with a delay. Oscillators help to find reversal points in advance or synchronously.

MetaTrader 5 for Android provides 30 indicators. They are divided into the following groups:

• Trend Indicators
• Oscillators
• Volume Indicators
• Bill Williams' Indicators

A technical indicator can be drawn in a separate indicator window with its own vertical scale (for example, MACD) or applied directly to a price chart (like Moving Average). Each indicator has a specific set of parameters.

Managing Indicators

To go to the indicators management page, tap in the chart view.

Adding Indicators

To add an indicator, tap next to the required chart window.

A tap on opens a window from where you can select an indicator.

Select one of the indicators listed here. A detailed description of all available indicators is provided in sections "Trend Indicators", "Oscillators", "Volume Indicators" and "Bill Williams' Indicators".

After you select an indicator, its properties window opens.

Settings of Indicators

Each indicator has a specific set of parameters.

One of the common parameters is "Apply to". Indicators can be plotted based on price data and derivatives thereof (Median Price, Typical Price, Weighted Close), as well as on the basis of other indicators. For example, a Moving Average can be constructed based on MACD values. To do this, first plot the MACD indicator, and then in its window add MA, selecting in the "Apply to" field of its settings the "Previous indicator's data" option. If you select "First indicator's data", MA will be constructed on the basis of the very first indicator, which is not necessarily the MACD. Nine variants of indicator construction are available:

• Close – based on close prices.
• Open – based on open prices.
• High – based on High prices.
• Low – based on Low prices.

• Median Price (HL/2) – based on the median price: (High + Low)/2.
• Typical Price (HLC/3) – based on the typical price: (High + Low + Close)/3.
• Weighted Close (HLCC/4) – based on the average weighted close price: (High + Low + 2*Close)/4.
• First indicator's data – based on the values of the first applied indicator. The option of using the data of the first indicator is only available for indicators in a separate window, because in the main chart window the first indicator is the price.
• Previous indicator's data – based on the values of the previous indicator.

In addition to this parameter, you can set the Period, Method, Shift and many other parameters of indicators.

Removing Indicators

To delete indicators, tap at the top of the window. Then tick off all the indicators that you want to delete, and once again tap .

Modifying Indicators

To change the parameters of an indicator, tap on it in the "Indicators" window.