There are several ways to add a trading indicator to a chart:
- You can add it by adding a new formula to the chart or updating an existing one.
- You can add it by clicking on few buttons (A new formula is automatically created)
Note that a chart is composed of one or several formulas.
In this post, we will show you how to add an indicator using the second option, which consists of adding an indicator using the "Add a Function" control and this control will take care of creating a new formula for us.
- In a pane/chart, click on the first icon located at the top (Add Indicator)
- Select "All Indicators" tab
- In "Search" input box, type the name of the indicator you want to add
For example, type "simple moving average" then select "Simple Moving Average" (SMA) from the indicators list
There are two versions of the SMA indicator. The first one use the close time-series and allows you to set a period (Parameter panel in the right). The second one allows you to define your own time-series.
You can for example, calculate a moving average of an indicator such as the relative strength index (RSI). To do this, click on the "+" icon next to the "Close" parameter then select the relative strength index indicator.
- Click on "OK" to add the indicator to the chart
You can update this indicator by clicking on the "Update Indicator" icon (third icon at the top of the chart) then selecting the indicator name.