Essential Technical Analysis Tools for Traders

Having the right tools is crucial for successful technical analysis. Whether you're a day trader or long-term investor, these tools will help you make better decisions.

Charting Platforms

Your primary workspace for technical analysis:

• TradingView - Most popular, excellent Pine Script support
• TradingTerminal - Advanced charting with AI features
• Metatrader - Forex and CFD trading standard
• TrendSpider - Automated technical analysis

Key Indicators Every Trader Should Know

Trend Indicators

• Moving Averages - SMA, EMA, WMA
• ADX - Measures trend strength
• Ichimoku - Comprehensive trend system

Momentum Indicators

• RSI - Relative Strength Index
• MACD - Moving Average Convergence Divergence
• Stochastic - Overbought/oversold conditions

Volatility Indicators

• Bollinger Bands - Price volatility bands
• ATR - Average True Range
• Keltner Channels - Volatility-based channels

Our Tools

At Pravidhi, we provide free tools to help traders:

• Indicators Calculator - Calculate any indicator for any asset
• Markdown Preview - Preview your trading notes and analysis

Conclusion

Start with basics and gradually add tools to your arsenal. The best traders understand that more tools isn't always better—master a few key ones first, then expand as needed.