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Technical indicators guide

What each indicator means, how to read it and a simple rule you can test. Every indicator here also works on the iTradeChart chart, scanner and strategy backtest, free.

Momentum oscillators

  • Relative Strength Index (RSI)RSI measures how strong recent up-moves are compared with recent down-moves, on a scale of 0 to 100. It was created by J. Welles Wilder and uses a 14-candle smoothing by default.
  • MACD (Moving Average Convergence Divergence)MACD is the difference between a fast EMA (12) and a slow EMA (26). A 9-period EMA of that line is the signal line, and the gap between them is drawn as a histogram.
  • Stochastic OscillatorStochastic compares the close with the high-low range of the last 14 candles (%K) and smooths it (%D), on a 0-100 scale.
  • Commodity Channel Index (CCI)CCI measures how far the typical price is from its average, scaled so most values fall between −100 and +100.
  • Williams %RWilliams %R shows where the close is within the last 14 candles' range, on a scale of 0 to −100.
  • Stochastic RSIStoch RSI applies the Stochastic formula to RSI values, making a faster 0-100 oscillator.

Trend and moving averages

  • Exponential Moving Average (EMA)EMA is an average of closing prices that gives more weight to recent candles, so it reacts faster than a simple moving average.
  • Simple Moving Average (SMA)SMA is the plain average of the last N closing prices. The 50-day and 200-day SMAs (often called DMA) are watched widely for the long-term trend.
  • SupertrendSupertrend is a trailing line based on ATR (average true range). It sits below the price in an uptrend (green) and above the price in a downtrend (red), and flips when the price closes through it.
  • Ichimoku CloudIchimoku is a full trend system: conversion line (9), base line (26) and a cloud (span A and B) drawn 26 candles ahead.
  • Parabolic SARParabolic SAR places dots below the price in an uptrend and above it in a downtrend. The dots move closer to the price as the trend continues.
  • Pivot PointsPivot points are support and resistance levels for today, calculated from yesterday's high, low and close: P = (H + L + C) ÷ 3, with R1-R3 above and S1-S3 below.
  • Hull Moving Average (HMA)Hull MA is a fast, smooth moving average built from weighted moving averages. It lags less than EMA or SMA.
  • Aroon IndicatorAroon Up and Aroon Down show how many candles have passed since the last N-period high and low, on a 0-100 scale.

Volatility and trend strength

  • Bollinger BandsBollinger Bands are a 20-period SMA with an upper and lower band 2 standard deviations away. The bands widen when the price is volatile and narrow when it is calm.
  • Average Directional Index (ADX)ADX measures how strong a trend is, not its direction, on a 0-100 scale. It comes with +DI and −DI lines that show which side is stronger.
  • Average True Range (ATR)ATR is the average size of a candle's full move (including gaps) over the last 14 candles. It tells you how much a stock usually moves, not the direction.
  • Donchian ChannelDonchian Channel draws the highest high and lowest low of the last N candles. A 250-day channel on daily candles is the 52-week high and low.
  • Keltner ChannelKeltner Channel is an EMA with bands set a multiple of ATR above and below. It is smoother than Bollinger Bands.
  • Squeeze MomentumSqueeze Momentum shows when Bollinger Bands are inside the Keltner Channel (a 'squeeze', low volatility) and draws a momentum histogram.

Volume

  • VWAP (Volume Weighted Average Price)VWAP is the average price of the day weighted by volume. It starts fresh every session, so it is mainly used on intraday charts.
  • On Balance Volume (OBV)OBV adds the day's volume when the close is up and subtracts it when the close is down, giving a running total of buying vs selling volume.
  • Money Flow Index (MFI)MFI is like RSI but uses both price and volume (money flow) over 14 candles, on a 0-100 scale.
  • Chaikin Money Flow (CMF)CMF measures buying and selling pressure over 20 candles, using where each close sits in its range and the volume.