Some new design arrangements, more indicators and Dutch language for news and analysis added
November sees our latest batch of improvements for the platform. In the last several months our focus has been on making the drawing functionality better and easier to use.
New Drawing Menu
Our probably most important change is the addition of a new drawing menu for all charts, located under the news and messages tabs. Their arrangement has been carefully considered to cover the frequency of use by traders and contains the most important elements that aid the analysis of charts.
The crosshair has been located on top, with its vital role for immediately identifying interesections between time, price and indicator levels. It’s followed by the different types of drawings – selectable from a dropdown menu after you click on the button itself.
Below them we’ve placed the popular fibonacii related indicators and the most commonly utilised three geometric figures. A text box that can be placed anywhere on the chart is at the bottom.
The Polynomial Regression channels indicator is one of the indicators we’ve added. It’s popular among day traders, especially for instruments that are traded in a range, as it provides relatively frequent signals in both directions (based on its parameters of course). The indicator is based on an approximation of market prices by polynomial of n-th power, forming a top and bottom band. These bands are calculated as value of polynomial +/- standard deviation of polynomial prices.
When the price is in the upper band, or passes beyond it, this is read as a sell signal and vice versa for passing the lower belt.
There are two types of styles in using the indicator. The more conservative one takes the middle line as a take profit level, while more risk-on traders wait until the opposite belt is reached, before they exit.
One tip for using it – due to its nature, the slope of the lines and the exact position for entering a trade can change while viewed on a chart with live prices, so its best used on a static chart (one that fills the whole screen). This makes it more suited for timeframes of 5 and more minutes.
We have also added four linear regression indicators – Slope, Intercept, Forecasting and RSquared. These different variations are used to draw lines that determine trend directions and momentum shifts, signalling entry points for trades.
Last but not least, we’ve added Dutch to the languages we provide news and analysis in, as a result of the increasing number of traders coming from the Netherlands.
Let us know if you have any other features you want us to consider for the platform down in the comments. Any feedback on your current experience with Trading 212 is also welcome.