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In this guide, references to charts are used as a visualization tool to aid in understanding how the PowerLanguage scripting works.
PowerLanguage studies are divided in to into two main types: Indicators and Signals.
An '''Indicator''' is a visual technical analysis tool, used to analyze market conditions and identify and forecast trends and market patterns. An indicator is a visualization of a mathematical formula, and consists of one or more '''Plots''' – lines, histograms, series of points or crosses, highs and lows, left and right ticks, or a combination of the above, displayed on a chart. Indicators are computed using only price, volume, and (occasionally) open interest data.
