How to use Charting Tools to improve Technical Analysis

Modified on Fri, 31 May at 11:59 AM

Delta Exchange has integrated Trading View charts that can be used by traders for conducting technical analysis. Here’s the list of features and tools that are at the disposal of traders for enhancing their trading strategies and performance.

1. Multi-Tab Options

The multiple tab option is available on the top of the trading screen interface. The tabs offer different parameters such as traded price, mark price, funding and market dept.

2. Different Chart Types

By default, the chart shown on the interface is a candlestick chart with 15m frequency. However, there are multiple chart options available such as Line, Bars, Hollow Candles and so on, ranging from a frequency of 1 minute to 30 days.

3. Perform Analysis and Technical Studies

This feature on the interface lets traders compare two or more contracts to see if there is any price correlation, draw analysis through data points or track the movement of price. Let’s take, for instance, Bollinger Bands on BTCUSD contract. Bollinger Bands is a set of lines plotted two standard deviations away from a simple moving average. Two standard deviations is not a fixed number and hence traders have the option of changing the standard deviations according to their strategy on the interface. This is what Bollinger Bands on BTCUSD at 1 standard deviation look like.*The arrow marked in red is where the option to edit charts is available. After loading a particular study, traders have the option to edit the data points in line with their study. Please note: Trading View saves a study in the contract on which the study is created. For example, a trader has created a study on 30 days moving average on BTCUSD. The trader saves the chart as 30MA-BTCUSD. This study is now based on BTCUSD only and can't be used on another contract. If the trader then opens ETHUSD chart and opens the moving average study, the BTCUSD contract will also be loaded along with the study. For ETHUSD, a new moving average study needs to be created.

4. Editing Tool

The editing feature lets users choose the tools they are comfortable in using or that help increase the efficiency in making a chart. There are various types of brushes, paint colours, trend lines, a pre-made analysis that traders can load onto their chart. Traders can also add text and can load chart patterns such a Head and Shoulders, Elliot Wave and more.

5. Open charts in full screen or in a new tab

Traders can also view the charts loaded either on the same tab itself, load it on a new window or on full-screen mode. This feature ensures the charts don't clog on one tab itself.

6. Take a Screenshot and Share

Trades can take a screenshot of the charts and indicators they have created, or even wish to share it with other traders or on other platforms.

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