List of MT4 & MT5 Technical Indicators and How they work

MT4 and MT5 trading platforms have a number of built-in technical indicators.

But do you know how to use them to analyse the markets?

We have summarized the list of technical indicators and each function.

In this page, the following Technical Indicators are explained.

  1. Average Directional Index (ADX)
  2. Accumulation Swing
  3. Linear Regression
  4. Slow Stochastics Oscillator
  5. Relative Strength Index (RSI)
  6. Moving Average Convergence/Divergence (MACD)
  7. Momentum
  8. Moving Averages
  9. Dynamic Momentum Index (DMI)
  10. Commodity Channel Index (CCI)
  11. Bollinger Bands
  12. Average True Range (ATR)
  13. Moving Average Modified
  14. Moving Average Exponential
  15. Median Price
  16. Mass Index
  17. Moving Average Simple
  18. Moving Average Triangular
  19. Moving Average Weighted
  20. Parabolic SAR
  21. Percent Change
  22. Percent of Resistance
  23. Percent R
  24. Linear Regression Slope
  25. Keltner Channel
  26. Aroon
  27. Chande Momentum
  28. DEMA – Double Exponential Moving Average
  29. Commodity Selection Index
  30. Detrended Price Oscillator
  31. Directional Movement – ADXR
  32. Envelope
  33. Fast Stochastics
  34. Inertia
  35. Intraday Momentum
  36. Ichimoku
  37. Kairi
  38. Forecast Oscillator

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1. Average Directional Index (ADX)

The Average Directional Index (ADX) helps traders see if a trend is developing in the charts and whether the trend is strengthening or weakening.

How it works

Rated on a scale of 0 to 100. Measures trend strength over a set number of days (usually 14).

Indicator movements bounce mainly between 20 and 40

  • Below 20 – ADX detects little trend activity
  • Above 20 – Price movements in the currency pair chart are forming a trend
  • Above 40 – Detected trend is extremely strong
  • Falling from 40 – Trend is weakening. Seldom moves above 60

2. Accumulation Swing

The Accumulation Swing indicator is an oscillator-based on the swing index (S”).

A currency trading price buying signal is generated when the daily high exceeds the previous SI significant high, and a currency trading price selling signal occurs when the daily low dips under the significant SI low.

With the Accumulation Swing Index attempting to show the real Forex trading market, it closely resembles actual prices.

This allows usage of classic support/resistance analysis on the Index. Typical analysis involves looking for breakouts, new highs and lows, and divergences.

3. Linear Regression

The Linear Regression indicator is calculated by fitting a linear regression line over the values for the given period, and then determining the current value for that line.

A linear regression line is a straight line which is as close to all of the given values as possible.

The linear regression indicator at the beginning of a data series is not defined until there are enough values to fill the given period.

Same as: Time Series Moving Average and Time Series Forecast with an offset of zero.

4. Slow Stochastics Oscillator

The Stochastic Oscillator compares the closing price of a currency pair to its price range over a period of days.

Traders use this to measure the momentum of a trend as well as determine when it may reverse its course.

Traders can then forecast possible entry or exit points.

How it works

Measures the momentum strength of a currency pair by analyzing how long it can maintain the trend.

Uses two lines – the %K and %D which appear on a subchart below the price chart.

The %K line compares the market close for the day to the trading range over 14 days.

The %D line is a signal line which uses a simple 5-day Simple Moving Average of the %K.

Lines to move between a range of zero and 100.

Oversold when the %K or %D moves below 20, the currency pair is oversold.

Overbought when the %K or %D moves over 80.

When the %K line crosses the %D, many traders consider this to be a good place to buy.

Likewise, when the %D crosses the %K, it is a good place to sell.

5. Relative Strength Index (RSI)

RSI forecasts when a financial product is overbought or oversold. Traders use this to determine when to enter or exit a position.

How it works

Compares the average number of days that a currency pair closes up to the average number of days that it closes down.

Average is then rated on a scale of 1 to 100.

Overbought when its price goes above the 80 baseline.

Oversold when its price drops below 20 baseline.

Typically used with a 9-, 14-, or 25-calendar day (7-, 10-, or 20-trading day) period against the closing price of a Forex market.

The more days that are included in the calculation, the less volatile the value.

6. Moving Average Convergence/Divergence (MACD)

The MACD helps traders forecast when to enter or exit a trade. This indicator can also be used to determine when a trend may be reversing.

How it works

Based on the Exponential Moving Average (EMA) indicator.

Calculated by subtracting the value of a slow, 26-day EMA from the value of a fast, 12-day EMA.

This value is compared to a 9-day EMA, which is displayed as a signal line.

  • MACD trend line rises above the signal line – indication to buy the currency pair.
  • MACD drops below the signal line – indication to sell the currency pair.

7. Momentum

Momentum compares the most recent closing price to a set number of previous closing prices and plots the difference in a single line.

With this comparison, which appears below the price chart, traders can determine the pace of a trend and forecast when the price movements may continue or reverse.

How it works

Calculate and plot the net change between close of a bar and close ten bars earlier.

Helps traders determine the pace of a trend and forecast possible trend reversals.

Helps identify overbought and oversold conditions.

8. Moving Averages

This type of indicator averages prices over a particular time frame to smooth market moves into a single trend line.

There are several types of moving averages – each use a variety of different calculation methods to achieve a result.

Traders use these to clarify market moves and verify trends when the market is volatile.

How it works

Helps determine if the highs and lows of a currency pair depict a particular pattern.

Uses different calculations to simplify price movements.

For example:

Simple Moving Average (SMA) averages the price of a currency pair over a specific time period.

Exponential Moving Average (EMA) is calculated the same way, but gives more weight to the most recent prices.

9. Dynamic Momentum Index (DMI)

DMI forecasts when a financial product is overbought or oversold.

Traders display this below the price chart to compare market moves to the indicator and forecast when to enter or exit a position.

How it works

Forecast when a currency pair is overbought or oversold;

Calculated by comparing the average number of times that a currency pair closes up to the average number of times it closes down;

Use a rating scale of 1 to 100, Overbought when its price goes above 70, Oversold when its price drops below 30.

Time frame based on market volatility.

When a currency pair experiences increased volatility, the DMI decreases the number of time periods it uses in its calculation.

When volatility is decreased, the DMI increase the number of periods. As a result, the DMI is more sensitive to market fluctuations and displays changes more rapidly than the RSI can.

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10. Commodity Channel Index (CCI)

The Commodity Channel Index is an oscillator that helps traders forecast when a currency pair is overbought or oversold based on cyclical price movements.

How it works

Forecasts how close the actual commodities market moves are to the commodities cycle.

Calculated using four equations.

  1. Typical price is calculated: Average of a currency pair’s last high, low and close for selected time period (ex. a day).
  2. Typical price is used to calculate a 20-period Simple Moving Average (SMA).
  3. Difference between the typical price and the SMA is used to determine the Mean Deviation.
  4. These three values are used in the following equation to determine CCI: Typical Price – 20-Day Simple Moving Average / 0.015 X Mean Deviation

11. Bollinger Bands

Bollinger Bands help traders in a number of ways.

These bands forecast the highest and lowest prices for a currency pair.

They also help traders visualize volatility and determine when a trend may continue or reverse.

How it works

One of the most commonly used technical indicators.

Consists of three bands:

  1. The Middle Band is calculated based on the average price of a currency pair over a specific number of time periods.
  2. The Upper Band uses the Middle Band plus two standard deviations; a standard deviation measures how close prices are to the average.
  3. The Lower Band also uses the Middle Band, minus two standard deviations.

Track the real price movements of a currency pair within these indicator bands:

When the market moves cross the Upper Band, the current price of the currency pair is considered high.

When market moves cross the Lower Band, the current price is considered low.

Traders see these movements as signs that a market may soon reverse its course.

When price movements closely follow the Middle Band, the current price is considered to be trading within its average.

Monitor market volatility.

Wide distance between the bands indicates high volatility.

Narrow space between the bands indicates low market volatility.

12. Average True Range (ATR)

The ATR is used to determine volatility as well as to identify possible trend tops and bottoms.

How it works

Based on the True Range.

Calculated by finding the highest difference between:

  1. Most recent high and most recent low
  2. Most recent high and previous close
  3. Most recent low and previous close

Values in the true range are averaged together over a set period (usually over 14 days).

Average creates the single line that usually appears in the sub-graph below the chart.

Low ATR shows that the price for the currency pair is level and that there is little to no volatility in the market.

High ATR indicates that the markets are volatile.

Used to:

Forecast tops and bottoms in the price movements (as tops and bottoms usually occur during low volatility).

Multiply the current ATR by a value (most use two or three) and use value as the distance to set a trailing stop, or subtract the value from the current price to determine the value of a stop.

13. Moving Average Modified

The Modified Moving Average (“MMA”) is an algebraic technique which makes averages more responsive to price movements.

The average includes a sloping factor to help it catch up with the rising or falling value of the currency trading price.

Modified moving Averages are similar to simple moving averages.

The first point of the modified moving average is calculated the same way the first point of the simple moving average is calculated.

However, all subsequent points are calculated by first adding the new price and then subtracting the last average from the resulting sum.

The difference is the new point, or MMA.

14. Moving Average Exponential

An exponential moving average is calculated by combining a certain percentage of the current value with an inverse percentage of the previous value of the exponential moving average.

For example, if 25% weight is being given to the current value, 25% of the current value is added to 75% of the previous moving average to get the current moving average.

The period is used to determine the relative weight which previous values should be given.

The formula 2/ (period+1) is used to determine the percentage.

For example, a period of 7 would cause 25% (2/ (7+1)) of the current value and 75% of the previous exponential moving average value to be used.

NOTE: All previous values are used to make up a current exponential moving average, even values from before the period.

The period is used as a rough estimate of how long new values will remain significant in calculation. The value at the beginning of a data series is considered to be zero.

Therefore, you may want to ignore the values before the period has completed. Moving Averages are useful for smoothing raw, noisy data, such as daily prices.

Price data can vary greatly from dayto-day, obscuring whether the price is going up or down over time.

By looking at the moving average of the price, a more general picture of the underlying trends can be seen.

Since moving averages can be used to see trends, they can also be used to see whether data is bucking the trend.

Entry/exit systems often compare data to a moving average to determine whether it is supporting a trend or starting a new one.

15. Median Price

The Median Price function calculates the midpoint between the high and low prices for the day.

Sometimes it is also referred to as the mean or average price.

The median price provides a simplified view of the currency trading prices for the day.

It can be used to smooth out some of the volatility of the closing price since it includes information for the entire trading day rather than specifically the end of the day.

The median price can be used anywhere a closing price or other single price field would be used.

16. Mass Index

The Mass Index uses the range of the bars to calculate several values, including exponential averages of the ranges.

It then calculates and plots an index of these calculations.

The Mass Index is used in trending markets to monitor direction and warn of potential changes in Forex market direction.

The Mass Index signals a possible price reversal when the Mass Index line crosses above the setup line and subsequently falls below the trigger line.

This is known as a reversal bulge.

The Mass Index does not identify the trend direction, but rather warns of possible reversals.

17. Moving Average Simple

The Simple Moving Average (“SMA”) indicator is calculated by summing the closing prices of the currency for a period of time and then dividing this total by the number of time periods.

Sometimes called an arithmetic moving average, the SMA is basically the average price over a period of time.

Because the Simple Moving Average gives equal weight to each daily price, the longer the time period studied, the greater the smoothing out of recent forex market volatility.

Long-term moving averages smooth out all the minor fluctuations showing only longer-term trends.

Shorter-term moving averages will show shorter term trends but at the expense of the long term.

Most of the time, prices are on one side or the other of the moving average.

As trends develop, the moving average will slope in the direction of the trend, showing the trend direction and some indication of its strength based on the steepness of the slope.

18. Moving Average Triangular

The Moving Average Triangular indicator calculates a simple arithmetic average of prices, specified by the input Price.

It then calculates and plots a simple arithmetic average of this average.

The length of each of these averages is one more than half the value specified in the input Length, rounded to a whole number.

This uses all the price data from the most recent number of bars specified by the input Length, but with the smoothing effect of ‘averaging the average’.

A moving average is generally used for trend identification.

Attention is given to the direction in which the average is moving and to the relative position of prices and the moving average.

Rising moving average values (direction) and prices above the moving average (position) would indicate an uptrend.

Declining moving average values and prices below the moving average would indicate a downtrend.

A displaced moving average plots the moving average value of a previous bar or later bar on the current bar.

19. Moving Average Weighted

The weighted moving average is calculated by averaging together the previous values over the given period, including the current value.

These values are weighted linearly, with the oldest value receiving a weight of 1, the next value receiving a weight of 2, and so on up to the current value, which receives a weight equal to the period.

The moving average at the beginning of a data series is not defined until there are enough values to fill the given period.

NOTE: For more exaggerated weighting on the current values, you may want to use an exponential moving average.

You could also average two or more weighted moving averages together. Moving Averages are useful for smoothing raw, noisy data, such as daily prices.

Price data can vary greatly from dayto-day, obscuring whether the price is going up or down over time.

By looking at the moving average of the price, a more general picture of the underlying trends can be seen.

Since moving averages can be used to see trends, they can also be used to see whether data is bucking the trend.

Entry/exit systems often compare data to a moving average to determine whether it is supporting a trend or starting a new one.

20. Parabolic SAR

The Parabolic SAR (“PSAR”) indicator is based on the relationship between a Forex market’s price and time.

It is used to determine when to stop and reverse (“SAR”) a position utilizing time/price based stops.

Once a Parabolic SAR is reached, the current position is exited and a new position in the opposite direction is taken.

It is primarily used in trending markets and is based on always having a position in the Forex market.

The indicator may also be used to determine stop points and estimating when you would reverse a position and take a trade the opposite direction.

The indicator derives its name from the fact that when charted, the pattern resembles a parabola or French curve.

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21. Percent Change

The Percent Change indicator calculates and plots the net change, expressed as a percent, between a bar’s price, as specified by the input Price, and that price the number of bars ago specified in the input Length.

The default settings plot the percent change for the close of each bar compared to the bar before it.

This indicator is a quick and easy method of viewing price swings on a barby-bar basis illustrating price volatility.

22. Percent of Resistance

The Percent of Resistance (“PCR”) indicator is an oscillator that compares a currency’s closing price to its price range over a given time period.

23. Percent R

The Percent R indicator is an overbought / oversold oscillator that is best applied to choppy markets and markets locked in a sideways price pattern or trading range.

It can also be used to indicate when to buy on troughs in bull markets and sell on rallies in bear markets.

In general, this indicator can help you take advantage of shorter-term countertrend moves occurring within longer term trends as well as indicate the best time to exit or enter a particular forex market.

An oversold market is believed to occur when the Percent R line is less than the buy zone line.

Conversely, an overbought market is believed to occur when the Percent R line is greater than the sell zone line.

24. Linear Regression Slope

The Linear Regression Slope is just one of the more than 100 technical tools available.

It crunches the numbers of past market prices to provide you with insight into price trends and possible turning points, churning out the resulting data as a line that can be overlaid on a chart and updated as the current market prices update.

This indicator uses past market values to forecast potential market values in the near future, and is used to help determine when a trend may change direction.

Some technical analysts believe that when prices rise above or fall below this linear regression line, prices are overextended and will begin to move in the opposite direction back toward the line.

This is how this tool is used to indicate when a trend may change direction.

25. Keltner Channel

The Keltner Channel plots two bands around a central modified moving average and is similar to Bollinger Bands in the way the distance of the upper and lower bands from the average will vary according to the underlying volatility of price.

As opposed to Bollinger Bands, which use standard deviation in the calculation, Keltner bands use Average True Range.

True Range was developed by J. Welles Wilder Jr. to represent the real highs and lows of the day to include possible gaps from the prior bar’s close to the current bar’s open.

This is a tool that was intended more for the futures and equities markets where there is a significant time gap between the close and the following day’s open.

In this way, True Range is calculated by taking the maximum of:

  1. High – Low
  2. The prior bar’s close – Low
  3. High – the prior bar’s close However, it is very unusual for these gaps to occur in the Forex market since there is no time difference between one day’s close and the next day’s open.

Thus a gap can only really effectively occur over weekends or during volatile market conditions.

A modified average is then taken of a series of True Range calculations.

Clearly, if there has been a significant level of high range bars the upper and lower bands will move away from the average while a series of low range bars will cause the bands to move inwards towards the average.

Thus Keltner Bands will automatically expand and contract as the market volatility rises and falls respectively.

Basic usage of the Keltner channels are two-fold:

  1. In consolidating markets the upper and lower bands may be considered as approximate support and resistance where trades may be considered to take advantage of range trading.
  2. Where price breaks cleanly through and closes outside one of the bands there is a higher risk of a trend in the direction of the break developing.
  3. The central moving average may be used as a trailing stop when in a trending move

It is always recommended that trades are not initiated on the basis of one indicator only and utilizing other techniques such as momentum indicators (i.e., RSI, Stochastics, etc.) may be used in order to help confirm or deny the entry signals.

Reference to price patterns is also preferred.

Parameter Defaults: Period = 12 (controls the measurement period for the average) Factor = 1 (controls the placement of the bands around the average)

Plots: Upper KC Upper Band line, Mid KC Central Moving Average, Lower KC Lower Band line Formula: Mid KC = “Period” length modified moving average Upper KCv = Mid KC + “Period” length Average True Range x Factor Lower KC = Mid KC – “Period” length Average True Range x Factor

26. Aroon

The Aroon indicator is used to determine if a currency trading price is moving in a trend or sideways as well as how strong the trend is.

If the price of a currency trading price is rising, the close for the period will be closer to the end of the period, and vice versa.

The Aroon indicator shows how much time passed between the highest (up) or lowest (down) close since the beginning of a period (in percents).

When Aroon (up) and Aroon (down) are moving together, there is no clear trend (the price is moving sideways, or about to move sideways).

When the Aroon (up) is below 50, it is an indication that the uptrend is losing its momentum, while when the Aroon (down) is below 50; it is an indication that the downtrend is losing its momentum.

When the Aroon (up) or Aroon (down) are above 70, it indicate a strong trend in the same direction, while when the value is below 30, it indicates a trend coming in an opposite direction.

Finally, for the Aroon Oscillator, the positive value indicates an upward trend (or coming trend), and the negative value indicates a downward trend. The higher the absolute value of an oscillator, the stronger is an indication of a trend.

27. Chande Momentum

The Chande Momentum indicator is a momentum oscillator.

There are two different ways this oscillator is used as a trading signal. The first is to measure overbought or oversold levels for a given currency.

The second method is to buy when the oscillator crosses above its moving average line and to sell when the oscillator crosses below its moving average line.

The Chande Momentum indicator is constructed using the sum over a given period of price changes on up days, sum (high-low) up, and the sum over the same period of prices on down days, sum (high-low), down.

An exponential moving average of this line is then overlaid upon the oscillator as a signal line. The oscillator requires two parameters: the period over which the price ranges will be summed, and the period for the moving average.

28. DEMA – Double Exponential Moving Average

Double Exponential Moving Average (“DEMA”) is a unique composite of a single exponential moving average and a double exponential moving average that provides less lag than either of the two components individually.

DEMA can be used in place of trading traditional moving averages.

29. Commodity Selection Index

The Commodity Selection Index (“CSI”) is a momentum indicator which helps to select commodities suitable for short-term trading.

A high CSI rating indicates that the commodity has strong trending and volatility characteristics.

The trending characteristics are brought out by the Directional Movement factor in the calculation, and the volatility characteristics are brought out by the Average True Range factor.

30. Detrended Price Oscillator

The Detrended Price Oscillator (“DPO”) attempts to eliminate the trend in prices.

Detrended prices allow you to more easily identify cycles and overbought/oversold levels.

Long-term cycles are made up of a series of short-term cycles. Analyzing these shorter term components of the long-term cycles can be helpful in identifying major turning points in the longer term cycle.

The DPO helps you remove these longer-term cycles from prices.

To calculate the DPO, create an n-period simple moving average (where “n” is the number of periods in the moving average).

Then, subtract the moving average “(n / 2) + 1” days ago from the closing price. The result is the DPO.

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31. Directional Movement – ADXR

The ADXR takes the ADX value of a bar and averages it with the ADX value of a recent, trailing bar.

This has the effect of smoothing the ADX values.

As with the ADX, a rising ADXR might indicate a strong underlying trend while a falling ADXR suggests a weakening trend subject to a reversal.

ADXR can also identify non-trending markets or the deterioration of an ongoing trend.

Although Forex market direction is important in its calculation, the ADXR is not a directional indicator.

The ADXR differs from ADX in that it is less sensitive to short, quick reversals because it results in a ‘smoother’ calculation.

It was developed to compensate for the variance of excessive tops and bottoms and is especially helpful when used in conjunction with trend-following strategies.

Strategies that rely on volatility as an indication of movement may not take into account that movement does not necessarily indicate volatility.

ADXR provides information pertaining to the strength of a trend, helping you to manage the risk of trading in volatile markets that fluctuate between trending and non-trending.

32. Envelope

Envelopes are used to indicate the trading range of a given Forex trading market above and below an average price.

In this case, an exponential moving average is taken against the Forex market, and then a trading band is applied by adding and subtracting a fixed percentage of the average on that day.

This will calculate the price 5% above and 5% below the average.

33. Fast Stochastics

The Fast Stochastic indicator calculates the location of a current price in relation to its range over a period of bars.

The default settings are to use the most recent 14 bars (input Length), the high and low of that period to establish a range (input HighValue and LowValue) and the close as the current price (input CloseValue).

This calculation is then indexed and plotted as FastK. A smoothed average of FastK, known as FastD, is also plotted.

FastK and FastD plot as oscillators with values from 0 to 100.

The direction of the Stochastics should confirm price movement. For example, rising Stochastics confirm rising prices.

Stochastics can also help identify turning points when there are non-confirmations or divergences.

For example, a new high in price without a new high in Stochastics may indicate a false breakout. Stochastics are also used to identify overbought and oversold conditions when the Stochastics reach extreme highs or lows.

Additionally, FastK crossing above the smoother FastD can be a buy signal and vice versa.

34. Inertia

The Inertia indicator is used to measure the momentum of a currency trading price based on its volatility.

An outgrowth of the Relative Volatility Index, Inertia is simply a smoothed RVI.

Inertia is measured on a scale from 0 to 100. Negative Inertia is seen if the indicator is below 50.

If the indicator is above 50, it is said to have positive Inertia.

Signs of positive Inertia are indicative of a long-term upward trend. Signs of negative Inertia illustrate long-term downtrends.

35. Intraday Momentum

The Intraday Momentum Index (“IMI”) is a combination of the Relative Strength Index and Candlestick Analysis.

The IMI is calculated like the RSI but uses the relationship between the intraday opening and closing prices to determine whether the day is up or down.

When the close is above the open, it is an up day.

If the close is below the open, it is a down day. White candlesticks signify an up day, black candlesticks used for down days.

As with the RSI, overbought conditions (and lower prices ahead) are indicated when the index rises above 70.

Values below 30 indicate a potential oversold situation and higher price ahead. Remember, as with all overbought/oversold indicators, you should first quantify the trend.

36. Ichimoku

The Ichimoku Kinko Hyo indicator determines forex market trends, levels of support and resistance, and generates buy and sell signals.

This indicator works best on the week and day time forex charts.

When assigning a dimension of parameters, four time frames of different extent are used.

The significances of the separate lines that make up this indicator are based on these intervals:

  • Tenkan-sen displays the average value of the price for the first period of time; defined as the sum of a maximum and the minimum for this time frame, divided by two.
  • Kijun-sen displays the average value of the price for the second time frame.
  • Senkou Span A displays the midpoint between the previous two lines, shifted forward on value of the second time frame.
  • Senkou Span B displays the average value of the price for the third time frame, shifted forward on value of the second time frame.
  • Chinkou Span displays the closing price of the current candle, shifted back on value of the second time frame.

The distance between the lines, Senkou, is shaded on the schedule with other color and is named as ‘cloud’. If the price is found between these lines, the market is considered without a trend and the edges of a cloud will derivate levels of support and resistance.

If the price is found above a cloud, its upper line will derivate the first level of support, and second – second level of support.

If the price is found under a cloud, the lower line will derivate the first level of resistance, in upper – second.

If the line, Chinkou Span, intersects the chart of the price bottom-up, it is a signal to buy.

If it intersects top-down, it is a signal to sell.

Kijun-sen is used as a parameter of movement in the forex market.

If the price is higher than the Kijun-sen, the price will most likely rise.

When the price intersects this line, changes in the trend are likely. An alternative version of usage for the Kijun-sen is the submission of signals.

The buy signal is generated when the line Tenkan-sen intersects Kijun-sen bottom-up and a sell signal is generated when the Tenkan-sen intersects Kijun-sen top-down. Tenkan-sen is used as the indicator of a forex market trend.

If this line grows or drops, the trend exists. When it goes horizontally, the forex market has come into the channel.

37. Kairi

The Kairi indicator charts the percentage difference between the current closing value and its simple moving average.

It can be used either as a trend indicator or as an overbought/oversold signal.

38. Forecast Oscillator

The Forecast Oscillator is an extension of the linear regression-based indicators.

It is a percentage comparison of the price of an issue and the price as indicated by the Time Series Forecast Oscillator.

The oscillator is above zero when the forecast price is greater than the actual price.

Conversely, it’s less than zero if it’s below. When the forecast price and the actual price are the same, the oscillator would plot as zero.

Prices that are persistently below the forecast price suggest lower prices ahead.

Actual prices that are persistently above the forecast price suggest higher prices ahead.

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