Studies

The average price over a period, drawn over the candles.

How it is calculated: Each point averages the chosen price over the last Period candles, with the chosen method.

How to read it: Price above a rising average reads as an uptrend, below a falling one as a downtrend. Two averages of different periods crossing is a common signal: the faster one crossing above the slower one reads as bullish.

• It can read another study instead of price (Reads), for example a smoothed RSI. It then moves into that study's pane.

A moving average weighted by each candle's volume.

How it is calculated: The sum of price times volume over the period, divided by the total volume of the period.

How to read it: It leans toward prices where more volume traded. Where it sits above a plain average of the same period, the heavier trading happened at higher prices.

• Uses simulated volume when the layer has no imported volume.

Five lines and a cloud drawn ahead of price.

How it is calculated: Each line is the midpoint of the highest high and lowest low over its period: the conversion line over the conversion period, the base line over the base period. Span A is the average of those two and span B the midpoint over the span B period; both are moved forward by the displacement to form the cloud. The lagging line is the close moved back by the displacement.

How to read it: Price above the cloud reads as bullish, below it as bearish, inside it as undecided. The conversion line crossing the base line is a common signal, and the cloud's edges act as support and resistance.

The candles of a higher timeframe drawn behind the chart.

How it is calculated: The chart's candles are rolled up into the chosen timeframe, and each higher timeframe candle is drawn as a block that spans the candles it covers.

How to read it: Each block shows the open, high, low and close of the period it covers, so the bigger picture shows without leaving the chart.

A trailing line that flips sides with the trend.

How it is calculated: Bands are placed the ATR multiplier times the average true range above and below each candle's midpoint. The line follows the lower band in an uptrend and the upper band in a downtrend, only ever moving toward price, and flips when a close crosses it.

How to read it: Below price, in the rising color, it reads as an uptrend; above price, in the falling color, as a downtrend. A flip marks a possible change of trend, and the line itself is often used as a trailing stop.

Dots that trail price and speed up as a trend goes on.

How it is calculated: Each dot moves toward the trend's extreme price by the acceleration. The acceleration starts at Step and grows by Step at each new extreme, up to Maximum. When price crosses the dots, they jump to the other side and the acceleration starts again.

How to read it: Dots below price read as an uptrend, above as a downtrend. A flip is a possible reversal; in a sideways market the dots flip often.

Trend strength (ADX) with the two directional lines (+DI and -DI).

How it is calculated: +DI and -DI measure how much each candle extends beyond the one before, up and down, as a share of the average true range, smoothed over the DI period. The ADX is the smoothed difference between them, as a share of their sum.

How to read it: A rising ADX means a strengthening trend, whatever its direction; a low or falling ADX means a weak or no trend. +DI above -DI reads as up, the other way as down.

Three shifted averages: jaw, teeth and lips.

How it is calculated: Each line is a smoothed average of the candle midpoint (high plus low, halved) over its own period, moved forward by its own shift.

How to read it: Lines tangled together mean no trend. Lines fanned out in order (lips, teeth, jaw) mean a trend in that direction. The teeth is the line another study reads.

The distance between the Alligator's lines, as bars above and below zero.

How it is calculated: The upper bars are the gap between the shifted jaw and teeth; the lower bars are the gap between the shifted teeth and lips, drawn below zero.

How to read it: Bars in the widening color mean the lines are separating, a trend developing; bars in the narrowing color mean they are closing in.

A moving average with bands a number of standard deviations away.

How it is calculated: The middle line averages the chosen price over the period with the basis method. The bands sit the chosen number of standard deviations above and below it, measured over the same period around the middle line.

How to read it: Narrow bands mean low volatility, and a squeeze often comes before a large move. Price at or outside a band is stretched from the average, not a signal on its own.

• The outer lines, the mid line and the band fill each have a color setting.

Where price sits between the Bollinger Bands, in a pane.

How it is calculated: Price minus the lower band, divided by the distance between the bands. The bands use a simple average for the middle line.

How to read it: One is the upper band and zero the lower band, both drawn as guide lines. Above one or below zero is outside the bands.

An average with bands a multiple of the average true range away.

How it is calculated: The middle line is an exponential average of the close over the basis period. The bands sit the ATR multiplier times the average true range above and below it.

How to read it: Price closing outside a band can mark a strong move. The width follows how far price travels per candle, where Bollinger's follows how spread out the closes are.

The highest high and lowest low over a period.

How it is calculated: The upper line is the highest high of the last Period candles, the lower line the lowest low, and the middle line is halfway between them.

How to read it: A close beyond a band is a new high or low for the period, a common breakout signal. A flat band shows a level that has held for the whole period.

Bands a fixed percentage above and below an average.

How it is calculated: The middle line averages the chosen price with the basis method; each band sits the chosen percentage of the middle line away from it.

How to read it: Price at a band is a fixed distance from the average. Unlike Bollinger Bands, the width does not change with volatility.

Where candles close within their range, against a signal line.

How it is calculated: For each candle, close minus open and high minus low are both smoothed over four candles (weighted 1, 2, 2, 1). The RVI is the sum of the first over the period divided by the sum of the second. The signal line is the same four-candle weighting of the RVI.

How to read it: Closes near the high in an uptrend give a rising line. The RVI crossing its signal line is the usual reading.

The relative strength index, from 0 to 100.

How it is calculated: The average gain and the average loss from candle to candle over the period, smoothed Wilder's way. RSI is 100 minus 100 divided by one plus average gain over average loss.

How to read it: Above the overbought line price has risen fast; below the oversold line it has fallen fast. Neither is a reversal on its own. Divergence marking shows where RSI and price disagree.

Where the close sits within the recent range, as %K and %D.

How it is calculated: %K is the close minus the lowest low over the %K length, divided by the range over that length, times 100, then averaged over Smoothing. %D is the average of %K over the %D length.

How to read it: High values mean closes near the top of the range, low values near the bottom. %K crossing %D, above the overbought line or below the oversold line, is the usual signal.

The stochastic calculated on the RSI instead of price.

How it is calculated: The RSI is calculated over the RSI length, then the stochastic is taken over the RSI values: where the RSI sits between its own highest and lowest value over the %K length.

How to read it: It moves faster than the RSI and reaches its extremes more often, so it is read for timing inside a trend rather than for extremes alone.

• It is the Stochastic study with Measured on set to RSI; switching it to Price makes it a plain stochastic.

The commodity channel index: distance from the average in units of typical deviation.

How it is calculated: The typical price (high, low and close averaged) minus its simple average over the period, divided by 0.015 times the mean deviation over the period.

How to read it: Above +100 or below -100, both drawn as guide lines, is an unusually large move. Most readings fall between them.

Williams %R: where the close sits in the recent range, from 0 to -100.

How it is calculated: The close minus the highest high over the period, divided by the range over the period, times 100.

How to read it: Near zero is near the top of the range, near -100 near the bottom. The guide lines at -20 and -80 mark the usual overbought and oversold zones.

The rate of change: the percentage change from a number of candles ago.

How it is calculated: Price now minus price Period candles ago, divided by price then, times 100.

How to read it: Above zero price is higher than it was, below zero lower. The distance from zero shows how fast it moved.

The price change from a number of candles ago.

How it is calculated: Price now minus price Period candles ago, in price units.

How to read it: Above zero price is higher than it was, below zero lower. A falling line above zero means the rise is slowing.

The rate of change of a triple-smoothed average.

How it is calculated: An exponential average applied three times over the period, then its percentage change from one candle to the next.

How to read it: The triple smoothing removes short swings, so what is left is the trend's own slope. Crossing zero is the usual reading.

DeMarker: compares highs and lows with the candle before, from 0 to 1.

How it is calculated: The rise in the high and the fall in the low from each candle to the next are averaged over the period. DeMarker is the average rise divided by the sum of both averages.

How to read it: High values mean buying pressure, low values selling pressure. The guide lines at 0.3 and 0.7 mark the usual zones.

Bulls Power: how far highs reach above an average.

How it is calculated: Each candle's high minus the exponential average of price over the period.

How to read it: Positive values mean buyers pushed price above the average. Falling positive values mean they are pushing less far.

Bears Power: how far lows reach below an average.

How it is calculated: Each candle's low minus the exponential average of price over the period.

How to read it: Negative values mean sellers pushed price below the average. Rising negative values mean they are pushing less far.

The Accelerator Oscillator: the change in the Awesome Oscillator.

How it is calculated: The Awesome Oscillator minus its own 5-candle simple average.

How to read it: It shows momentum speeding up or slowing down, often before the Awesome Oscillator turns. Above zero momentum is gaining, below zero it is losing.

• Its lengths are fixed by definition, so it has no Period setting.

The Awesome Oscillator: the difference between a fast and a slow average of the candle midpoint.

How it is calculated: The 5-candle simple average of the midpoint (high plus low, halved) minus its 34-candle simple average.

How to read it: Bars above zero mean short-term momentum is above long-term. A cross of zero is the usual signal.

• Its lengths are fixed by definition, so it has no Period setting.

The difference between two averages, with a signal line and a histogram.

How it is calculated: The MACD line is the fast exponential average minus the slow one. The signal line is an exponential average of the MACD line, and the histogram is the MACD line minus the signal line. The averages start from the first candle, so the line begins there.

How to read it: The MACD line crossing its signal line, which is where the histogram crosses zero, and the MACD line crossing zero are the usual signals. Divergence marking reads the MACD line.

The average true range: how far price moves per candle.

How it is calculated: The true range of a candle is the largest of its range, the gap from the previous close to its high, and the gap from the previous close to its low. The ATR averages it over the period, Wilder's way.

How to read it: A rising line means larger candles, a falling line smaller ones. It measures size, not direction.

How spread out prices are over the period.

How it is calculated: The standard deviation of price over the period, around its simple average: the same measure Bollinger Bands use for their width.

How to read it: A rising line means volatility is increasing. A low trough is the same squeeze Bollinger Bands show.

How wide the Bollinger Bands are, relative to the middle line.

How it is calculated: The distance between the upper and lower band divided by the middle line. The bands use a simple average for the middle line.

How to read it: A low reading is a squeeze, which often comes before a large move. A high reading means volatility is already high.

The force index: price change multiplied by volume.

How it is calculated: The change in close from each candle to the next, multiplied by that candle's volume, averaged exponentially over the period.

How to read it: Large positive values mean strong buying, large negative values strong selling. Crossing zero marks which side is winning.

• Uses simulated volume when the layer has no imported volume.

The Chaikin Oscillator: the momentum of the accumulation/distribution line.

How it is calculated: A 3-candle exponential average of the accumulation/distribution line minus its 10-candle exponential average.

How to read it: Crossing zero is the usual reading: above zero, accumulation is gaining pace.

• Its lengths are fixed by definition, so it has no Period setting.
• Uses simulated volume when the layer has no imported volume.

Volume per candle, as bars in a pane.

How it is calculated: Each bar is the candle's imported volume, or its simulated volume when the layer has no imported volume.

How to read it: Tall bars mark candles with a lot of trading. A breakout on tall bars has more behind it than one on short bars.

On balance volume: a running total of volume, added on up candles and taken off on down candles.

How it is calculated: Starting from zero, each candle adds its volume when its close is higher than the one before and subtracts it when lower.

How to read it: A rising line means volume is heavier on up candles. OBV rising while price is flat can show buying before price moves.

• It is a running total, so it has no Period setting.

A running total of volume weighted by where each candle closes in its range.

How it is calculated: Each candle adds its volume times its close location: +1 for a close at the high, -1 at the low, 0 in the middle.

How to read it: A rising line means closes are mostly near the highs, a falling line near the lows.

• It is a running total, so it has no Period setting.

The money flow index: an RSI that includes volume, from 0 to 100.

How it is calculated: Typical price times volume is money flow. Flow on candles whose typical price rose is positive, on those where it fell negative; over the period, MFI is 100 minus 100 divided by one plus positive over negative flow.

How to read it: High values mean strong buying, low values strong selling. The guide lines at 20 and 80 mark the usual zones.

Chaikin money flow: volume-weighted buying and selling pressure over a period.

How it is calculated: The sum of close location times volume over the period, divided by the total volume, so it runs from -1 to +1.

How to read it: Above zero means closes near the highs on the heavier volume, buying pressure; below zero selling pressure.

The volume-weighted average price over a moving window, with bands.

How it is calculated: The typical price (high, low and close averaged), weighted by volume over the last Period candles. The bands sit Band deviations times the volume-weighted standard deviation away.

How to read it: Price above it means recent buyers paid more than the average of the window. The bands show how far from that average price usually trades.

The volume-weighted average price from a chosen candle on.

How it is calculated: The typical price, weighted by volume, from the anchor candle to each later candle.

How to read it: It shows the average price paid since the anchor, for example since a high or a news candle. It is a drawing tool, placed by clicking a candle.

Its settings are under Tools

Volume traded at each price over a range of candles.

How it is calculated: Each candle's volume is spread over the prices it covered and summed by price row across the chosen range.

How to read it: Long bars mark prices where a lot traded, which often act as support or resistance. It is a drawing tool with its own settings.

Its settings are under Tools

Volume at each price inside every candle.

How it is calculated: Each candle is split into the smaller candles it is made of, and their volume is placed on a shared price grid, split into buying and selling.

How to read it: It shows where inside a candle the trading happened, and where one side outweighed the other. It is a drawing tool that covers a whole candle layer.

Its settings are under Tools

Support and resistance levels from the previous session.

How it is calculated: From the last complete session: the pivot is the average of its high, low and close, and three levels above (R1 to R3) and below (S1 to S3) follow from the chosen formula.

How to read it: The pivot is the center of the session to come; the levels above and below are where price often reacts. Price above the pivot reads as bullish for the session.

Support and resistance bands over clustered swing highs and lows.

How it is calculated: Swing highs and lows are grouped by price; the prices that were revisited most become zones, about one for every twenty candles.

How to read it: Bands where price turned more than once. They are added as rectangles in one undo step, and can be moved, restyled or deleted like any rectangle.

Finds named candle patterns on the chart.

How it is calculated: Each ticked pattern is looked for in the selected candle layer, for example Doji, Hammer, Engulfing, Morning star and Fractals. Sliders set how strict the match is.

How to read it: It opens its own panel and marks what it finds while a pattern is ticked. The marks are not drawings: unticking the pattern removes them, and nothing is added to the canvas.