Advanced Topics

Use Overlay and Indicator Studies

There are a number of overlays and indicators to help you interpret the chart.

  • Overlays are positioned directly over the price curve. You can see their value at the cursor in the upper left hand corner.

  • Indicators are separate curves appearing under the price curve.

For full descriptions, including interpretations and formulas, go to the Forex Indicators web pages.

Overlays and Indicators

 

Add an Overlay or Indicator

  1. Click the drop-down arrow for the menu located in the bottom-left corner of the graph.

    Add Study Menu

     

    Note: If you can't see this menu, you may need to switch to the advanced chart view. Click the Chart Options Icon Chart Options button located in the top-right corner above the graph, and select Advanced Chart View from its menu.

  2. Select the overlay or indicator type from the menu that appears. (For full descriptions of all the choices, go to the Forex Indicators web pages.)

    Add Study Menu Choice

     

  3. A set of parameters appears to the right of the menu. These parameters are unique for each study.

    Add Study Menu Parameters

     

  4. Click button plus to add the study to the chart area.

    Add Study Menu Parameters

     

Modify or Remove an Overlay or Indicator

To remove an overlay or indicator from the graph, click over it and select Remove from the pop-up menu that appears:

Remove Indicator

Use this same menu to modify the values used to plot the overlay or indicator, or to change the colours and styles it uses.

(To change the default colours used by the charting interface, select Tools > Colour Scheme > Edit Custom Theme.)

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A Note Regarding Price Overlays

For clarity surrounding limit orders and why they may or may not have been triggered, please reference the following Price Overlays:

  • For a buy limit order above the current price, refer to High Ask.
  • For a buy limit order below the current price, refer to Low Ask.
  • For a sell limit order above the current price, refer to High Bid.
  • For a sell limit order below the current price, refer to Low Bid.
  • For a take-profit on a long (buy) trade, refer to High Bid.
  • For a take-profit on a short (sell) trade, refer to Low Ask.
  • For a stop-loss on a long (buy) trade, refer to Low Bid.
  • For a stop-loss on a short (sell) trade, refer to High Ask.
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