We have some great additions that will help both long term traders, as well as day traders in assessing the instruments they are trading. We have an entire new category of indicators related to volume and several new charting functions, as well as a welcome addition to the mobile apps.
This long awaited tool has now become a part of Trading 212. There is one important point that we’d like to bring forward, namely, how the volume is calculated. In our view we’ve selected the best possible volume source for currencies – the amount of quotes available at any given time. This amount signifies the number of trades being performed around the world, as there is no publicly available (and accurate) data on the amounts being traded between the numerous banks, funds, companies and traders, we feel this gives the most relevant indication for the actual volume. Tick volume is the closest visual representation of the classical volume indicators, while the others are effectively versions of standard indicators, but used on volume levels. If you have any questions about the different volume indicators, how they are calculated and how they are usually interpreted – let us know in the comments and we’ll get back to you.
New Technical Drawings
Four more drawings have been added to the charting functionality in the platform – Elliot Impulse Wave, Elliot Triangle Wave, ABCD Pattern and XABCD Pattern. They are all located on the right-hand side of the platform and provide a more complex type of drawing to directly and easily be placed on the chart of any instrument. The Elliot Wave theory is based on crowd behaviour which, it is assumed, has ebbs and flows in clear trends. Based on these ups and downs, R.N. Elliot managed to identify a structure for price movements. With the functionality we’ve included this structure can be easily drawn onto the chart.
ABCD and XABCD patterns are variations of a trading method that relies on the rhythm of ups and downs of trending markets. It consists of three consecutive price swings and aims to determine when and where to enter and exit based on previous support and resistance levels. As with Elliot waves you can now draw the patterns one after the other without clicking and plotting the trend lines multiple times.
Withdrawing from mobile apps
We’ve added another functionality completing the mobile trading experience – withdrawing directly through our app. With most trading options now available to our smartphone and tablet users, this will enable them to perform all activities related to real accounts and control the entire trading activity through their mobile devices.
If you have any questions about them let us know in the comments or contact our customer support.