What is Technical Analysis?

   Analyzing the price movements in the past, evaluating with certain statistical calculation methods and estimating future prices is called technical analysis.

   All software required for technical analysis is available in MT4 and similar forex platform applications. It is possible to make these drawings and analyzes individually.

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   The most basic points to be aware of are support, resistance and trend drawings. Then there are many indicators that you can use to support you when you trade.

   In order to open the right spot and to close the positions profitably, it is first necessary to select the trading period well. Daily, instant, weekly, etc. You can take positions according to the frequency of operations, you can use the appropriate analysis methods.

For example; An investor thinking about doing long-term trading would be wrong to make a technical analysis looking at the 5-minute charts. Conversely, if you are evaluating the short term, instant transaction, you should prefer minute chart instead of weekly, monthly charts.

   In order to be successful in the markets, a single analysis method is not sufficient. It will be rational to focus on analytics by following well the news and data flow that occurs in the whole world for the best results and it is not forgotten that it affects many factors (political, economic, technical, psychological etc ...).

   In order to better understand the technical analysis, it is useful to explain indicators, which are an integral part.

What is the indicator?

   Indicators are indexs based on technical analytics that give clues about the direction of the market when trading in Forex.

   We can say that the forex trading is more profitable by showing various figures on the graphs, which point to open, where to open the current position, which prices will be appropriate in the future.

   These indicators can be supplied in many different ways on the internet as well as in the platform used.

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Most used indicators are;

• Moving Average Convergence / Divergence (MACD)
• Bollinger Bands
• RSI (Relative Strength Index)
• Moving Average
• Stochastic Oscillator

   We should not judge the indicators alone, we should not think that we will make a definite profit from transactions.

   As you know, market is affected by many factors. It is not possible to be successful only by technical analysis. You should learn best to the indicator, which you want to use, and test it on trial accounts before trading on the real account.

You can follow the steps below to add the indicator  to the MT4 platform.

Add → Indications → Trend → Bollinger Bands

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