Indicator guide
Explore the studies available in the terminal. Compare what each measures, how it is constructed and where its interpretation can fail.
How to read the calculations
Notation: O/H/L/C = open/high/low/close; V = volume; n = lookback; Δ = change; Σ = sum; σ = standard deviation. A previous value is marked “prev”.
Periods count bars, not minutes. A fast and a slow period describe different windows; a signal period adds smoothing. k is a multiplier. Price inputs are shown in each outline. Changing timeframe, smoothing or the start of an anchored calculation changes the result; allow enough history for warm-up.
Trend: A smoother line reacts later. Crossings can repeat in a sideways market; compare the slope and the chosen timeframe.
Momentum: An extreme reading can persist during a strong trend. A threshold crossing alone does not establish a reversal.
Volatility: A larger reading describes dispersion or range, not the direction of the next move. Compare like-for-like periods.
Volume: The result depends on the supplied volume series. Missing, tick or venue-specific volume changes its meaning.
Levels & structure: A level is a reference, not a guaranteed fill or barrier. Check confirmation, lookback and whether the current bar is complete.
VolumeAccumulation/Distribution
Cumulatively combines the close’s position within the bar with volume.
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A/D = A/D(prev) + ((2C−H−L)/(H−L)) × VTrendADX
Measures the strength of directional movement without assigning a bullish or bearish direction.
Interpretation limits
A rising ADX can accompany either an upward or a downward trend.
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DX = 100 × |+DI − −DI| / (+DI + −DI); ADX = smoothed DXTrendAlligator
Uses three displaced smoothing lines to visualize contraction and separation of price trends.
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Three smoothed moving averages with different periods and displacementsTrendAroon
Uses the recency of highs and lows to describe whether new extremes are forming.
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Aroon Up/Down = 100 × (n − bars since high/low) / nVolatilityATR
A smoothed measure of true bar range that includes gaps relative to the previous close.
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TR = max(H−L, |H−C(prev)|, |L−C(prev)|); ATR = smoothed TRVolatilityATR Bands
Builds a volatility envelope from average true range around a price baseline.
How ATR bands widen
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Bands = moving average ± k × ATRMomentumAwesome Oscillator
Compares short and long averages of bar midpoints to describe momentum around zero.
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AO = SMA((H+L)/2, 5) − SMA((H+L)/2, 34)MomentumBalance of Power
Relates the candle body to its full range to describe buying versus selling pressure within a bar.
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BOP = (C − O) / (H − L)MomentumBears Power
Measures how far bar lows extend below or above an exponential price average.
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Bears Power = L − EMA(C,n)VolatilityBollinger Bands
Places dispersion-based bands around a moving average; width expands and contracts with recent price variation.
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Basis = SMA(C,n); bands = basis ± k × σ(C,n)VolatilityBollinger Bands Width
Expresses Bollinger band width relative to the central average, useful for comparing compression and expansion.
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Width = 100 × (upper band − lower band) / basisMomentumBulls Power
Measures how far bar highs extend above or below an exponential price average.
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Bulls Power = H − EMA(C,n)MomentumCCI
Compares typical price with its average after adjusting for mean absolute deviation.
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CCI = (TP − SMA(TP,n)) / (0.015 × mean deviation); TP = (H+L+C)/3VolumeChaikin Money Flow
Estimates accumulation or distribution from where each close falls inside its bar range, weighted by volume.
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CMF = Σ(((2C−H−L)/(H−L)) × V, n) / Σ(V,n)VolumeChaikin Oscillator
Measures momentum in the accumulation/distribution line by comparing two exponential averages.
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Chaikin = EMA(A/D, fast) − EMA(A/D, slow)VolatilityChoppiness Index
Compares accumulated path length with the net high–low range to describe how choppy a window is.
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CHOP = 100 × log(ΣTR / (max(H,n) − min(L,n))) / log(n)MomentumCMO
Chande’s oscillator balances positive and negative changes on a −100 to 100 scale.
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CMO = 100 × (Σ gains − Σ losses) / (Σ gains + Σ losses)MomentumCoppock Curve
A weighted smoothing of two rates of change, originally designed for long-horizon analysis.
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Coppock = WMA(ROC(long) + ROC(short))TrendDEMA
Combines a first and second exponential average to compensate for part of their lag.
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DEMA = 2 × EMA(C) − EMA(EMA(C))TrendDMI
Separates positive and negative directional movement, with ADX describing their directional strength.
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+DI = 100 × smoothed(+DM) / ATR; −DI = 100 × smoothed(−DM) / ATRLevels & structureDonchian Channels
Marks rolling extremes and their midpoint, showing the recent price envelope.
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Upper = max(H,n); lower = min(L,n); middle = (upper+lower)/2MomentumDPO
Detrends price against a displaced moving average to make shorter cycles easier to inspect.
Interpretation limits
Displacement conventions differ between implementations. This outline follows the current Dexopt calculation.
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DPO = C − SMA(C,n)[floor(n/2)+1 bars ago]VolumeEase of Movement
Relates midpoint movement and range to volume to describe how easily price moves.
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EOM ∝ Δ((H+L)/2) × (H−L) / VTrendEMA
A recursive average giving more weight to recent prices than to older ones.
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EMA = α × C + (1 − α) × EMA(prev); α = 2 / (n + 1)MomentumFisher Transform
Transforms a bounded and smoothed price position to emphasize extremes.
Interpretation limits
Clipping and smoothing affect peaks. The transformed output is not proof that returns follow a normal distribution.
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Fisher(x) = 0.5 × ln((1+x)/(1−x))VolumeForce Index
Combines the direction and size of a closing-price change with volume.
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Force = smoothed((C − C(prev)) × V)Levels & structureFractal
Marks local extrema only after the required surrounding bars are available.
Interpretation limits
Confirmation arrives after the center bar; using the marker earlier would introduce look-ahead bias.
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Local high/low confirmed by bars on both sidesLevels & structureFractal Chaos Bands
Turns confirmed fractal extremes into step-like boundaries around price.
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Bands follow the latest confirmed upper and lower fractalsMomentumGator Oscillator
Displays the separation between Alligator lines as opposing histograms.
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Upper = |jaw − teeth|; lower = −|teeth − lips|VolatilityHistorical Volatility
Measures dispersion of logarithmic returns using the annualization convention in the terminal.
Interpretation limits
Dexopt uses √252. On an intraday or 24/7 chart, do not interpret this as an automatically timeframe-adjusted annual forecast.
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HV = σ(ln(C/C(prev)), n) × √252 × 100TrendHMA
The Hull average combines weighted averages to reduce delay while smoothing price.
Interpretation limits
Rounding of half and square-root periods affects short settings; reduced lag can also produce overshoot.
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HMA(n) = WMA(2 × WMA(C, n/2) − WMA(C, n), √n)Levels & structureIchimoku Cloud
Combines range midpoints and displaced spans to show trend context, relative levels and momentum.
Interpretation limits
A line drawn ahead on the time axis is a displaced calculation from known data, not an observation of future price.
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Midpoints of short/medium/long ranges; displaced spans form the cloudTrendKAMA
Kaufman’s adaptive average changes its smoothing using directional efficiency relative to total movement.
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KAMA = KAMA(prev) + SC × (C − KAMA(prev))VolatilityKeltner Channel
An exponential-average channel whose width follows true range rather than standard deviation.
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Channel = EMA(C,n) ± k × ATRLevels & structureKrollStop
Builds trailing stop reference lines by combining recent extremes with true-range volatility.
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Rolling price extremes adjusted by an ATR multipleMomentumKST
Know Sure Thing combines several smoothed rates of change to describe longer-horizon momentum.
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KST = Σ(weight × smoothed ROC(period))TrendLinear Regression
Fits a straight line to a rolling window of prices and displays the fitted value.
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C ≈ a + b × bar index; least-squares fit over n barsLevels & structureMA Envelope
Offsets a moving average by a fixed percentage rather than a volatility measure.
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Envelope = SMA(C,n) × (1 ± percentage/100)Levels & structureMAC
The moving-average channel smooths bar highs and lows into an upper and lower boundary.
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MA channel: moving averages of H and LMomentumMACD
Shows the difference between fast and slow exponential averages, with a smoothed signal and their difference.
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MACD = EMA(fast) − EMA(slow); histogram = MACD − signalVolatilityMass Index
Tracks expansion and contraction in the high–low range using the ratio of two smoothings.
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Mass = Σ(EMA(H−L) / EMA(EMA(H−L)), n)TrendMcGinley Dynamic
An adaptive smoothing line whose adjustment speed depends on price relative to its previous value.
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MD = MD(prev) + (C − MD(prev)) / (k × n × (C / MD(prev))⁴)VolumeMFI
A bounded money-flow oscillator combining typical-price direction with volume.
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MFI = 100 − 100 / (1 + positive money flow / negative money flow)MomentumMomentum
The absolute change in price over the selected lookback, expressed in price units.
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Momentum = C − C[n bars ago]VolumeNegative Volume Index
Updates a cumulative price-change index only on bars with lower volume than the preceding bar.
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NVI = NVI(prev) × (C/C(prev)) when V < V(prev)VolumeOBV
Accumulates volume positively or negatively according to the change in closing price.
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OBV = OBV(prev) + sign(ΔC) × VLevels & structureParabolic SAR
A trailing reference that accelerates toward an extreme until its reversal condition changes state.
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SAR = SAR(prev) + acceleration × (extreme − SAR(prev))Levels & structurePC
Marks the highest and lowest closing prices in a rolling window.
Interpretation limits
Dexopt PC uses closes and has two boundaries. Donchian Channels use candle highs and lows; the two studies can produce different envelopes.
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Upper = max(C,n); lower = min(C,n)Levels & structurePivot Points
Creates reference support and resistance levels from a completed prior period.
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P = (H(prev period)+L(prev period)+C(prev period))/3; derived R/S levelsMomentumPPO
Expresses the gap between two exponential averages as a percentage of the slow average.
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PPO = 100 × (EMA(fast) − EMA(slow)) / EMA(slow)MomentumRelative Vigor Index
Compares the direction of candle bodies with their ranges, using weighted smoothing and a signal.
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RVI = smoothed(C − O) / smoothed(H − L)MomentumROC
The percentage change in price relative to an earlier bar.
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ROC = 100 × (C / C[n bars ago] − 1)MomentumRSI
The relative strength index compares smoothed positive and negative price changes on a bounded 0–100 scale.
Interpretation limits
A reading above 70 or below 30 is a convention for describing momentum, not an instruction to enter a trade.
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RSI = 100 − 100 / (1 + average gain / average loss)TrendSMA
An equally weighted average of the last n prices; useful for comparing price with its recent baseline.
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SMA(n) = Σ C / nMomentumSMI
The stochastic momentum index measures the close relative to the midpoint of its range.
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SMI = 100 × smoothed(C − range midpoint) / smoothed(range/2)VolatilityStandard Deviation
Measures price dispersion around the mean within a rolling window.
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σ = √(Σ(C − mean)² / n)MomentumStochastic
Locates the closing price within its recent high–low range; smoothing creates the companion signal.
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%K = 100 × (C − min(L,n)) / (max(H,n) − min(L,n))MomentumStochastic RSI
Applies range normalization to RSI rather than directly to price, producing a more reactive oscillator.
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StochRSI = 100 × (RSI − min(RSI,n)) / (max(RSI,n) − min(RSI,n))Levels & structureSupertrend
A trailing line that switches between volatility-based upper and lower bands as its state changes.
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Basic bands = (H+L)/2 ± k × ATR; active band follows trend stateTrendTEMA
Combines three successive exponential averages to reduce smoothing delay.
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TEMA = 3 × EMA₁ − 3 × EMA₂ + EMA₃MomentumTRIX
The percentage change of a triple-smoothed exponential price series.
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TRIX = 100 × Δ(EMA(EMA(EMA(C)))) / EMA₃(prev)MomentumTSI
Normalizes double-smoothed price changes by double-smoothed absolute changes.
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TSI = 100 × double EMA(ΔC) / double EMA(|ΔC|)VolatilityUlcer Index
Measures the depth of price drawdowns over a window, with deeper declines receiving greater weight.
Interpretation limits
This is a price-series statistic, not the realized drawdown of your account.
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UI = √mean((100 × (C / rolling peak − 1))²)MomentumUltimate Oscillator
Combines buying pressure relative to true range across three horizons.
Interpretation limits
BP is close minus min(low, previous close); the subscripts denote rolling sums.
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UO = 100 × (4 × BP₇/TR₇ + 2 × BP₁₄/TR₁₄ + BP₂₈/TR₂₈) / 7VolumeVolume Oscillator
Compares short and long volume averages to describe changes in activity.
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VO = 100 × (MA(V,fast) − MA(V,slow)) / MA(V,slow)VolumeVolume Price Trend
Accumulates volume multiplied by the proportional change in closing price.
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VPT = VPT(prev) + V × (C / C(prev) − 1)TrendVortex
Compares upward and downward cross-bar movement after normalizing by true range.
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VI+ = Σ|H − L(prev)| / ΣTR; VI− = Σ|L − H(prev)| / ΣTRVolumeVWAP
A cumulative volume-weighted typical price, restarted at the selected anchor.
Interpretation limits
Dexopt anchors use UTC day, week or month. An incomplete anchor or missing volume can leave the reading unavailable.
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VWAP = Σ(((H + L + C) / 3) × V) / Σ VVolumeVWMA
A rolling price average that gives greater influence to bars with more volume.
Interpretation limits
When usable volume sums to zero, the current terminal implementation falls back to SMA; it is then not a volume-weighted reading.
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VWMA(n) = Σ(C × V, n) / Σ(V, n)MomentumWilliams %R
Measures how far the close sits below the recent high on a scale from −100 to 0.
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%R = −100 × (max(H,n) − C) / (max(H,n) − min(L,n))TrendWMA
A moving average with linearly increasing weights toward the newest observation.
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WMA = Σ (weight × C) / Σ weightLevels & structureZigZag
Filters small swings to expose larger turning points in the price structure.
Interpretation limits
The latest leg can move before confirmation. Historical turning points must not be treated as signals known at the earlier extreme.
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Connect confirmed alternating extremes beyond a deviation thresholdContinue learning
Further reading: Fidelity Technical Indicator Guide; TradingView / Bollinger Bands.