For me, analysis is a whole investigation.
With various tools, you try to squeeze as much information as possible from the chart, looking for different methods and approaches. All to be as confident as possible in the trade you are opening. Indicators are great for identifying patterns in the market, essentially providing ready signals.
I share my favorites:
1️⃣ Relative Strength Index (RSI)
This is a momentum indicator, showing whether an asset is oversold or overbought.
2️⃣ Simple Moving Average (SMA)
Filters out market noise and highlights the trend direction.
3️⃣ Moving Average Convergence Divergence (MACD)
Helps build a hypothesis on future price movement.
4️⃣ Stochastic RSI (StochRSI)
Tracks price movement and determines supply and demand levels in the market.
5️⃣ Bollinger Bands (BB)
Perfect for determining volatility. It is advisable to use it before the trading session starts to check pairs and assets 👍