Pivot Points (PP)

Introduction

Pivots Points are significant levels chartists can use to determine directional movement, support and resistance. Pivot Points use the prior period's high, low and close to formulate future support and resistance. In this regard, Pivot Points are predictive or leading indicators. There are at least five different versions of Pivot Points. This article will focus on Standard Pivot Points, Demark Pivot Points and Fibonacci Pivot Points.

Pivot Points were originally used by floor traders to set key levels. Floor traders are the original day traders. They deal in a very fast moving environment with a short-term focus. At the beginning of the trading day, floor traders would look at the previous day's high, low and close to calculate a Pivot Point for the current trading day. With this Pivot Point as the base, further calculations were used to set support 1, support 2, resistance 1 and resistance 2. These levels would then be used to assist their trading throughout the day.

Parabolic SAR

Introduction

Developed by Welles Wilder, the Parabolic SAR refers to a price and time based trading system. Wilder called this the "Parabolic Time/Price System". SAR stands for "stop and reverse", which is the actual indicator used in the system. SAR trails price as the trend extends over time. The indicator is below prices when prices are rising and above prices when prices are falling. In this regard, the indicator stops and reverses when the price trend reverses and breaks above or below the indicator.

Wilder introduced the Parabolic Time/Price System in his 1978 book, New Concepts in Technical Trading Systems. This book also includes RSI, Average True Range and the Directional Movement Concept (ADX). Despite being developed before the computer age, Wilder's indicators have stood the test of time and remain extremely popular.

Bollinger Bands (BB)

 Bollinger Bands (BB)

Introduction

Developed by John Bollinger, Bollinger Bands are volatility bands placed above and below a moving average. Volatility is based on the standard deviation, which changes a volatility increase and decreases. The bands automatically widen when volatility increases and narrow when volatility decreases. This dynamic nature of Bollinger Bands also means they can be used on different securities with the standard settings. For signals, Bollinger Bands can be used to identify M-Tops and W-Bottoms or to determine the strength of the trend. Signals derived from narrowing BandWidth are discussed in the chart school article on BandWidth.

SharpCharts Calculation

* Middle Band = 20-day simple moving average (SMA)
* Upper Band = 20-day SMA + (20-day standard deviation of price x 2)
* Lower Band = 20-day SMA - (20-day standard deviation of price x 2)

Moving Averages - Simple and Exponential

Introduction:

Moving averages smooth the price data to form a trend following indicator. They do not predict price direction, but rather define the current direction with a lag. Moving averages lag because they are based on past prices. Despite this lag, moving averages help smooth price action and filter out the noise. They also form the building blocks for many other technical indicators and overlays, such as Bollinger Bands, MACD and the McClellan Oscillator. The two most popular types of moving averages are the Simple Moving Average (SMA) and the Exponential Moving Average (EMA). These moving averages can be used to identify the direction of the trend or define potential support and resistance levels.

Here's a chart with both an SMA and an EMA on it: 

Moving Average Convergence-Divergence (MACD)

Introductio:

Developed by Gerald Appel in the late seventies, the Moving Average Convergence-Divergence (MACD) indicator is one of the simplest and most effective momentum indicators available. The MACD turns two trend-following indicators, moving averages, into a momentum oscillator by subtracting the longer moving average from the shorter moving average. As a result, the MACD offers the best of both worlds: trend following and momentum. The MACD fluctuates above and below the zero line as the moving averages converge, cross and diverge. Traders can look for signal line crossovers, centerline crossovers and divergences to generate signals. Because the MACD is unbounded, it is not particularly useful for identifying overbought and oversold levels.
Note: MACD can be pronounced as either "MAC-DEE" or "M-A-C-D".
Here is an example chart with the MACD indicator in the lower panel:

Tool displays the end time on the candle chart

After download to your computer, your files and copy and paste on the MT4 installed on your computer.

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Add indicator on the chart:

Tool automatically determines the candlestick chart pattern

 List of expression map write received:
  + Morning Star or Moning Doji Star
  + Evening Star or Evening Doji Star
  + Three White Soldiers
  + Three black Crows
  + Three Inside Up
  + Three Inside Down
  + Three Outside Up
  + Three Outside Down
  + Piercing Line
  + Dark Cloud Cover

After download to your computer, your files and copy and paste on the MT4 installed on your computer.

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Add indicator on the chart:

Tool automatically determines the Fibonacci Retracment

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Automated tools to identify trends

Tool automatically Channel 

After download to your computer, your files and copy and paste on the MT4 installed on your computer.
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Add indicator on the chart:

Tools PROMETER

After download to your computer, your files and copy and paste on the MT4 installed on your computer.

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Add indicator on the chart:

Closes multiple commands at once

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User manual:

Open Navigator:

Tool automatically pivot point

After download to your computer, your files and copy and paste on the MT4 installed on your computer.

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Add indicator on the chart:

Automated tools to identify trends

After download to your computer, your files and copy and paste on the MT4 installed on your computer.

DOWLOAD HERE

Add indicator on the chart:

Restart the software Meta Trader 4. Install the indicator on the Chat Window as follows:

Relative Strength Index (RSI)

Developed J. Welles Wilder, the Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. Traditionally, and according to Wilder, RSI is considered overbought when above 70 and oversold when below 30. Signals can also be generated by looking for divergences, failure swings and centerline crossovers. RSI can also be used to identify the general trend.