Exnova is a trading platform with plenty of features for trading seamlessly. Traders have many tools, indicators, etc., for trading. The Exnova trading indicators are perfect for conducting a technical analysis that helps you place profitable trades.
A trader cannot expect 100% profit while trading on a platform. However, if a trader makes the right decisions by using trading tools and researching well, he can prosper. Even though Exnova might offer you plenty of technical indicators, only a little help, you accurately determine the trends.
We will now have a look at the top Exnova indicators that you can use.
(Risk warning: Your capital can be at risk)
What you will read in this Post
5 best indicators for trading on Exnova
One good tip to make more money on Exnova is to use trading indicators. In fact, the platform offers the best charting features to traders. Traders can use trading charts and technical indicators simultaneously. Combining several tools for conducting a technical analysis helps traders ensure they are properly determining the trends.
In addition, traders can also know about the resistance and support levels in the market. It helps them decide the accurate timing to enter or exit the trade.
So, if you are wondering which Exnova indicators you should use for trading, here’s your answer.
1. Moving Averages
The moving average trading indicator will show you an asset’s average price movement. It is the most important Exnova indicator that many traders use. This indicator is like a trend line that will deliver results based on your chosen time frame.
For instance, if a trader is trading an asset for a short term on Exnova, he would like to know its performance and ups and downs for the past week or two. In that case, a trader can choose the time frame of two weeks and set up the indicator to use. The indicator will consider the asset’s price for all 14 days and divide the sum by 14 to determine the average.
Accordingly, a trader will see the moving average line that will help him determine the direction in which the underlying asset moves. So, a trader can take his trading call and decide how to place his trade on the asset.
There are several kinds of moving averages that traders can find on Exnova. These include Moving Average Convergence Divergence, Exponential Moving Average, etc. All these can help a trader know the trends an asset is following.
(Risk warning: Your capital can be at risk)
2. RSI
Knowing the market momentum of an asset is crucial. It is also a part of a proper technical analysis. RSI indicator helps traders determine the market momentum of the asset. When traders trade any asset on Exnova, they can determine the price action’s strength using this indicator.
Traders can use RSI effortlessly on Exnova. It helps traders compare the magnitude of their losses or gains. In addition, RSI makes it simple to know the oversold and overbought conditions to determine the right time to execute the trading action.
RSI tells about overbought and oversold conditions by showing a value between 0 and 100. Traders using this indicator on Exnova can determine these by using the formula: RSI = 100 – (100 / (1 + RS)).
So, when the RSI is above 70, it means that the market is overbought. Any reading below 30 indicates oversold conditions. So, traders trading any asset on Exnova can make trading decisions based on the market momentum.
3. Bollinger Bands
Bollinger Bands are the perfect technical indicators for determining market trends. This technical indicator contains three lines. A simple average line and two standard deviation lines get plotted above and below the moving average.
Traders can use this Exnova indicator easily. Exnova allows traders to set a time frame for which a trader wishes to conduct the technical analysis.
The standard deviation lines on Bollinger Bands help traders understand the price volatility of the underlying asset they are trading on Exnova. The upper and lower deviations indicate price volatility.
The price near the upper band signals overbought conditions. Likewise, the price near the lower band suggests oversold conditions. So, traders can sell the asset they are trading on Exnova when the asset price is near the upper band and vice versa.
(Risk warning: Your capital can be at risk)
4. MACD
MACD is another popular Exnova indicator. Like other indicators, MACD makes it easy for traders to determine the trends, resistance, and support levels.
The MACD usually has two lines for potential entry and exit points. It has a MACD line and a signal line. The MACD line is defined as the average between the long-term line and the short-term line.
The long-term moving average contains 26 periods, and the shorter one contains 12 periods. The MACD moving average (usually 9 periods) is used as the signal line.
A bullish Exnova signal occurs when the MACD line crosses above the signal line. It means that an asset is entering the uptrend. Likewise, if the MACD line falls below the line, this is a bearish signal. It would mean the asset may be entering a downtrend.
When conducting a technical analysis on Exnova, traders can use MACD with other technical indicators. Combining two or more indicators helps traders arrive at accurate results.
5. Stochastic Oscillator
It is an oscillator indicator available on Exnova. Exnova offers traders this popular technical analysis tool to measure the momentum of an asset’s price action. Stochastic Oscillator has two lines, %K and %D. This indicator oscillates between 0 and 100.
%K lines are calculated by comparing a closing price to a price range for that time period. The %D line represents a floating average of the %K line.
A Bullish signal is given when the %K line crosses over the %D line. It means that the asset’s price may be about to rise. However, traders can expect a bearish trend when the %K line surpasses the %D line. It would mean that the asset’s price may be about to fall.
Traders trading one of the 250 assets on Exnova can use this trading indicator on Exnova to conduct basic technical analysis. Using these trading indicators helps traders make well-established trading decisions. Traders can use these trading indicators individually. However, traders can also combine them to understand the price volatility in a much better way.
(Risk warning: Your capital can be at risk)
How to use trading indicators on Exnova?
Exnova has an elementary process for traders wanting to use trading indicators. The trader can select the underlying and the time frame for the technical analysis.
The broker also allows traders to use trading indicators on charts. Traders can apply them to their technical analysis by selecting one from the list of indicators offered by Exnova.
After applying the indicators, it will show the results to traders. Hence, traders will be able to determine the right trading decision they should take while trading on Exnova.
Is trading on Exnova safe?
No trading platform can guarantee success for traders. Whether a trader will have a safe trading experience depends upon his trading skills and knowledge. However, Exnova offers a very safe trading environment to traders.
The broker has many positive reviews from traders. It has a huge clientele, which tells that trading with this broker is mostly safe. Traders can pick any asset they wish to trade on Exnova. They can conduct a proper technical analysis using one of Exnova’s indicators and determine whether trading that asset will be profitable.
If a trader follows safe trading practices himself, he can make profits on Exnova.
Conclusion – Learn how to use the best Exnova indicators!
Trading without conducting a technical analysis can land a trader in trouble. Thankfully, Exnova offers many trading tools and technical indicators for conducting a technical analysis.
There are many technical indicators. However, these five trading indicators stand the test of time. A trader can easily find these indicators on Exnova and apply them to the asset they are trading. Finally, they can decide the action they should take while trading. Now it is your turn. Login to your Exnova account and practice what you have learned.
(Risk warning: Your capital can be at risk)
Frequently asked questions about Exnova indicators:
Does Exnova offer good trading indicators for conducting a technical analysis?
Yes, Exnova offers plenty of technical indicators for traders. Traders can enjoy using the most popular indicators for conducting their technical analysis before placing a trade. These usually include MACD, MA, RSI, Stochastic Oscillator, and Bollinger Bands.
Which indicators can I use on Exnova to determine trends?
Traders can use MACD and MA to determine the market trends of any asset. It helps traders know whether an asset is following an uptrend or downtrend. So, they can make a trading decision considering these trends.
How many trading indicators can I use on Exnova?
Traders can use one of the available Exnova indicators. However, the broker also allows traders to use more than one indicator simultaneously while conducting a technical analysis.
Are the indicators provided by Exnova enough to make profitable trades?
No, only Exnova indicators alone are not enough to make profitable trades. Traders should also use fundamental analysis, risk management strategies, and other tools with technical indicators to make informed trading decisions.
