Working with technical analysis indicators on the chart

CandleScanner can open up to three panels dedicated for technical analysis indicators (called I1, I2, I3 respectively) within the chart area (document) at a time. The top panel is reserved for a price chart (it can be extended by a volume panel), the remaining three panels are available for the indicators and/or volume. It is up to the user which panels are visible and their content.

On the first panel, where the price chart is located, you can put indicators which are from the technical overlays group (e.g. Simple Moving Average, SMA, of price). It is not possible to add on this panel other indicators to avoid problems with different scales (e.g. Average True Range, ATR). You can add more than one technical overlay at a time to this panel, however. For example, you can put Bollinger Bands, and two SMAs with different parameters.

On the indicators panels (I1, I2, I3) you can put any indicator you wish, either technical overlays or technical indicators. Each indicators panel can be occupied by more than one indicator at a time only if they have a common scale. For example, you can put into panel I1 Stochastic %D and RSI because they share the same scale. You cannot add there however in that case ATR.

Figure shows all possible panels visible:

  • price panel (P)
  • volume panel (V)
  • first indicators panel (I1)
  • second indicators panel (I2)
  • third indicators panel (I3)
Figure 1.

Figure 1. CandleScanner with all panels visible: price panel (always visible – cannot be hidden, labeled as P), volume panel – can be hidden from the ribbon via VIEW » Chart » Volume (labeled as V), 1-3 indicators panels which can be hidden via VIEW » Panels » {I1, I2, I3}. Please note that volume panel can be shown only if the underlying data contains volume quotes.

Price panel is always visible (cannot be closed/hidden). Volume panel is only available when underlying symbol contains volume data. If this is the case panel can be visible or hidden. All three indicators panels can be visible at any time. Volume and indicators panels can be shown/hidden using the ribbon bar.

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