Technical analysis is a trading specialty that helps to identify trading opportunities by analysing historical data. Technical indicators or "technicals" are essential in technical analysis.
Technical indicators are mathematical or heuristic calculations based on data, such as price, volume, open interest and etc.
There are two types of "technicals":
On JForex 3 platform, there are 13 groups of technical indicators. One can find Bill Williams' indicators, cycle indicators, momentum indicators, etc. Overall, the platform offers more than 250 built-in indicators.
A trader is able to adjust the way an indicator is calculated, as well as modify its appearance on the chart. A user can give the results of one indicator as an input for another indicator.
Also, it is possible to calculate an indicator from a custom data, as well as choose particular time frames where to apply a "technical".
Moreover, a trader can choose the following options: to recalculate an indicator on new candle only or to highlight the time period zone.
Technical indicators can be useful for predicting future price movements. However, it is effective to use different indicators at the same time for more precise signals.