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Add indicator to the chart - WMA

 

Add indicator to the chart - WMA

Hi

I'm new to the platform. Could someone direct me to how to add indicators on the chart and also I'm specifically looking for WMA. Not sure if it exists on Alveo.

Thanks and appreciate the help.

Thu, 06/09/2016 - 3:59pm
 
DragonSlayer

On ALVEO
Insert -> Indicators
I do not see WMA.
There is a LWMA, but Im not sure of the differences between those two MA's.
Sorry I couldn't help anymore than that.

 
matt lydon

As DragonSlayer wrote above, you probably want LWMA, which is a Weighted Moving Average.
Weighted Moving Averages typically apply a weight ( or a bias) to the more recent numbers to reflect the more current Price Action, as compared to the older numbers that are from the past.
To familiarize yourself with the process, select SMA ( Simple Moving Average that are calculated as one would expect, add the averages together, divide by the period= the average) from the indicators list, and apply it to a currency pair chart, then do the same thing, but with one of the other Moving Averages, there are 5 on the list. You may find one that you like better than others. My personal favorite is the HMA ( Hull Moving Average) which changes color as Prices Action changes. The default period ( time period that the MA "measures" ) setting is often 10 which may be relatively fast for a "newbie" like yourself, many experienced traders favor at least 1 of their MAs be a 20 or 21 period ( if they are using multiple MAs). the only REAL difference between a 20 & a 21 is that 21 is a Fibonacci number.
Try as many of the features on ALVEO as you can, to familiarize yourself with the functions AND, more importantly the look & feel as learn about trading. It's often discussed about newer traders overburdening their charts with some many indicators that they can't "see" the catual Price Action, or get confused by too many indicators. Keep in mind that ALL indicators " are lagging", which is a shorter way of saying that indicators are GRAPHICAL REPRESENTATION of the recent PAST of Price Action, they are not really PREDICTIVE of FUTURE PRICE ACTION. I apologize for my wordiness, but I remember when I was a "newbie" & the problem was almost ALWAYS " you don't know what you don't know". it's te great thing about the Forums, there's always somebody who knows something.
Trade wisely & well my friend

 
shri

Thank you guys.. appreciate the input... Matt thanks for the detailed response... will check the LWMA and see if it matches my other platform..

 
dan

I think the Ichimoku is the most forward looking indicator but unfortunately it has not been fixed yet and is not usable. Shawn however says it will work as they are fixing it. I guess there are a lot of tech things that compete for attention.