OANDA Japan introduces new indicator hoping to help clients depict support and resistance levels on the chart.
Online broker OANDA Japan has added a series of new features to the education section of OANDA Lab. One of them is the release of a new indicator called OANDA_Support_Resistance.
This indicator is intended for MT4/MT5 users to be able to depict support and resistance levels on the chart. Specifically, levels are calculated using fractals on three-time axes: long term, medium term, and short term. These support and resistance levels will later be displayed as dots.
OANDA Japan regularly updates its education page. In January, the company introduced OANDA Trading Analysis to help analyze the trading results of a particular strategy, including profits, losses, risks, and so on. With Trading Analysis, clients can determine whether their trading strategy is successful or not.
Another interesting update is the addition of the ranking of trading instruments on Forex assets, CFDs, stock indices, commodities, and bonds according to changes in their prices (up or down). This ranking lists the top 10 movers for the last day. Live account holders will have access to this additional information so they can use it to adjust their rankings.
Previously, in November 2021, OANDA Lab introduced an expert advisor (EA) on the MT4 platform to help clients trade according to a predetermined algorithm to make activities easier.