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making trading decisions.
Over 270 pre-built, customizable studies, covering the most popular trading concepts and indicators, are already included with the platform, and additional studies can be imported from a variety of sources. Basic adjustments to studies' logic can be made by simply changing the '''Input Values'''.
Studies can be fully customized, or entirely new studies created, using PowerLanguage® scripting in '''PowerLanguage Editor'''.
Studies can be divided into 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. Indicators are computed using only price, volume, and (occasionally) open interest data.* A '''Signal''' is a mechanical technical analysis tool, used to systematically specify market entry or exit points according to a set of trading rules implemented in the signal's algorithm. The trade points are indicated on a chart by ticks and arrows.Signals can be viewed as the basic building blocks of strategies.
* An indicator is applied to a particular data series, and can be displayed either in the same chart as the series or in another
SubChart. A signal can only be applied to the series with the Data #1 and is displayed in the same chart as the series.
