DXcharts Tools: Indicator Settings and Custom dxScript Indicators

6 min read

See all our DXcharts guides here.

Welcome to the fourth article in our series of guides. In these guides, we’ve been exploring the DXcharts features. This time we will take a closer look at indicators and their settings. We will also explore adding custom indicators using the dxScript language.

Read on to learn about the different types of indicators available in DXcharts and discover new ways to streamline your trading experience.

Predefined set of indicators

DXcharts comes with nearly 100 predefined ready-to-use technical indicators. Each indicator can be used independently or in combination to perform technical analysis on the charts.

Indicator view

Indicators vary according to their type, which is usually evident from their name. These include Moving Average, Index, Oscillator, Bands, Trend, Stochastic, Range, Volatility, and more. Each type has its own specific trading logic and purpose, try them all out in our DXcharts demo page.

Indicator settings

Each indicator comes with settings that allow you to configure initial parameters, specify plot types, and adjust the color and weight of the plots. There are INPUTS and PLOTS settings that can be customized.

Indicator settings

The INPUTS are the initial data series on which the plots are based. The set of inputs depends on a particular indicator.

Example. Bollinger Bands inputs

LengthThe number of periods the indicator uses to calculate the MidLine
DisplaceThe number of bars to be shifted
NumDevDownThe standard deviation value (in points) to plot the LowerBand
NumDevUpThe standard deviation value (in points) to plot the UpperBand
PriceThe source for the price value to calculate the MidLine:Open. The Open Price of every bar for the specified period.High. The High Price of every bar for the specified period.Low. The Low Price of every bar for the specified period.Close. The Close Price of every bar for the specified period.Median. The Median Price of every bar for the specified period – (High + Low) / 2.Typical. The sum of High, Low, and Close prices divided by 3 for the specified period – (High + Low + Close) / 3.OHLC average. The arithmetical mean of High, Low, Open, and Close prices for the specified period – (Open + High + Low + Close) / 4.Volume. The Close Price of every bar + average volume of an asset for the specified period. 
AverageThe type of Moving Average applied to the MidLine:Simple. Simple Moving Average (SMA).Wilders. Wilders Smoothing.Weighted. Weighted Moving Average (WMA).Exponential. Exponential Moving Average (EMA).
Bollinger Bands settings

The PLOTS serve as visual representations of the data displayed on the chart. You can change the following parameters of the plot in the settings: color, weight and type. Additionally, you can choose whether to show or hide a plot.

Example. Bollinger Bands plots

LowerBandThe lower deviation from the MidLine
MidLineThe middle line
UpperBandThe upper deviation from the MidLine
Three plots of Bollinger Bands

Custom indicators

DXcharts also allows you to create custom indicators through our proprietary language – dxScript. This domain-specific language is used to transform one data series into another. Designed for traders with no programming experience, dxScript has a clear and simple structure that allows traders to easily understand the scripts they create. In addition, the language comes with documentation that makes the process of creating indicators easier and more straightforward.

Adding a custom indicator

Once a custom indicator is saved, it can be duplicated to test the slightly modified version without removing the previous one. This allows traders to experiment and share their custom scripts with each other.

Whether you’re a new trader or want to expand your knowledge, our series of articles is designed to give you the guidance you need to use DXcharts successfully. Feel free to continue exploring technical analysis tools with us.

We hope this article has given you a better understanding of the indicators in DXcharts.