Technical Indicators for MetaTrader 4
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MetaTrader 4
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Overview
Technical - First of all, this is a trend indicator. Classic signal indicator. Fundamental analysis is based on data from the Economic Calendar, while technical analysis is based on indicators. It should be understood that any indicator is an algorithm that is displayed on the chart as icons. Inside it is a certain formula that calculates the information a trader needs based on past data.
Please note: the indicator does not predict the future! Even the best algorithms only summarize everything that was a second, minute, hour, day, a year ago and present it in a visual form. However, none of them can show what will happen to the price in the next minute. This must be taken into account. Therefore, you will not find a perfect algorithm and this indicator does not claim to be a grail.
Be that as it may, with the help of technical indicators, you can get valuable information that is very difficult or even impossible to determine by eye.
