What are other classic trading indicators or tools that MT4 does not have, such as Guppy moving average, Vegas channel, and Hull moving average?

AutoTrendLines---Automatic trendline tool. The name is simple and rude. This tool can automatically generate trend lines according to the trend, which should be of great help to novices. Because in my understanding, many novices can't draw trend lines. This tool can solve this problem very well.

The tool doesn't redraw, but it can change the angle of the line when new extremes appear. Best for intraday and mid-term trading.

The best working time frame is M15-H1.

This tool will try to find all possible trendlines on the chart. Then, with some coarse filter, it will exclude more than half of the lines it finds. Next, it checks the quality of the rest and displays the two best trendlines on the graph.

Of course, since trend lines are highly subjective, this tool is actually not very helpful to veterans. For example, the trend line drawn by the tool in the figure below is like this.

But if it's me, I'm more inclined to draw like this.

Can it be said that this tool is wrong, in fact, it is also right. Can it be said that I am wrong, in fact, I can't. Therefore, the trend line is very subjective, which is why I just said that it is not very helpful to veterans, because you can know how to draw it at a glance. But for novices, it's still quite helpful.

Introduce a market long-short sentiment indicator that is not available in MT4.

The Speculative Sentiment Index (SSI) indicator provides data on retail trader positions to help fill this important gap in market information. Using the Speculative Sentiment Index (SSI) indicator, you can plot real-time SSI data on a chart, showing the ratio of buyers to sellers among FXCM traders. Market conditions are clear at a glance and updated every second. Is it the buyer or the seller with the larger number? Are they entering or exiting? As a contrarian indicator, SSI can help you identify potential trading opportunities. The indicator also features a Percentage Long mode, which displays a line graph of the percentage of other traders' current positions that are long.

The Speculative Sentiment Index (SSI) is actually a discriminator of mass psychology. To make money in the market, you must pay attention to mass psychology. How to interpret the speculative sentiment index (SSI)? To put it simply, if most retail investors are long, the market may fall, and if the public is short, the market may rise, but this is not an inevitable relationship. In extreme cases, the direction of the market is driven by mass psychology.

Most of the indicators in today's foreign exchange market are based on past price performance, and then calculated according to various complex formulas or as indicators derived from theoretical models, which makes most technical indicators lag behind market prices relatively Timely changes, although we all know that the past history in foreign exchange technical analysis will repeat itself countless times, but for us who are engaged in technical analysis, we cannot know at which point in time the historical price repeats itself, which gives us Technical analysis poses a big problem, so many technical indicators and analysis experts have developed the long-short sentiment index, which is also the technical indicator I will introduce next, the speculative sentiment index ssi indicator, which is a leading indicator and can directly predict the future. Price changes, the positions of real account traders of the SSI index are derived. It is mainly used to count the number of long and short positions of a single currency pair. This report is updated every trading day to provide traders with statistical data, including the number of positions (long-short ratio), open contracts, and intra-day long-short Position changes. The figure below shows a standard set of SSI reports.

I believe that many traders are relatively unfamiliar with how to use the speculative sentiment index ssi indicator. This indicator mainly uses the SSI position report to observe the long-short position ratio of a single currency pair. For example, the USD/CAD display is 4:4, which means that retail investors in the current market Holding a net long position, the ratio of the long position to the short position is 4:4:1, which shows that the current position of the currency pair is quite unbalanced, as the saying goes, everything is necessary, and it is also because there are always a few transactions that make profits in the foreign exchange market Therefore, we use the speculative sentiment index ssi indicator as a technical indicator for reverse understanding, requiring traders to trade on the opposite side of most retail traders.