Periodic repetition of previously occurring events allows you to prepare for them and, by timely identifying the tendency to return to previous positions, earn a profit. There are a lot of tools in the trader's Arsenal: support/resistance levels, ascending and descending channels. The terminal has built-in functions for drawing the necessary lines on the chart of a currency pair.access to them is provided from the "Graphical tools"panel.
In addition to standard lines, the following tools are available:
- Grid, fan, arcs, time zones, and Fibonacci channel
- Grid, lines, Gann fan.
- Fourier series
These trading "add-ons" are an attempt to mathematically predict the subsequent price movement based on technical analysis of the previous trend dynamics in the market. The use of channel tools allows you to trade at the moment of price reversal within the channel, taking into account the current trend. Channel lines indicate where a correction reversal is most likely to occur if the price moves against the trend, support/resistance lines indicate the price level where a trend change is likely, the beginning of a prolonged correction. All technical analysis tools are based on mathematical calculations and are used mainly as a basis for determining trends, and more precisely, the moment of entering the market is determined by indicators.