Add Indicator

While trading you may need a new or additional indicator.

To add an indicator

  1. Do one of the following:
  2. The Add Indicator dialog box appears.

  3. Choose the indicator from the list of available indicators.
    Note that if the dialog box is called from a tick chart, the indicators requiring an OHLC bar as the data source (for example, ADX or Stochastic) are not listed as available.
    The indicators are divided into several groups (by purpose of usage or by author). The recently used indicators are also shown in a separate group at the top of the list.
    To be able to use your own indicator, add it to the list by clicking Import. For details, see Import Extensions.

    Note: You can search for an indicator in the list by typing some letters of its name in the filter box at the top of the dialog box.

    To choose an indicator, do one of the following:
  4. The 'Indicator' Properties dialog box appears ('Indicator' is the short name of the indicator of your choice).

    The set of parameters is determined by the chosen indicator.
  5. On the Parameters tab, change the parameters of the indicator:
  6. On the Data Source tab, choose the data needed to calculate the indicator symbol prices or the values of another indicator if such an option is available.
    If the indicator has a tick source and its volume is provided, you can use the volume as a data source.

    In addition to the Open, Close, High, and Low prices, you can use the Typical, Median, or Weighted price as a data source.
    More than one price is taken into account to calculate these prices. Thus, more information about each period is used resulting in a smoother indicator. The prices are calculated as follows:
  7. In the Period box, type or select the indicator period of your choice.

  8. (Optional, available only for some indicators) To hide the indicator data source, select the Hide source check box; otherwise, clear it.
  9. On the Location tab, choose where to display the indicator:

  10. Click OK.