Trading Software & Indicators For The Trade station Platform
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Trade Station Platform: The Gold Standard Platform Among Experienced Traders
Even with the best trading strategy, you need the right trading platform to make some profit. And that’s because they come with several apps and add-ons that can help you enhance your strategy. But with some platforms like the Trade Station Platform, you can gain access to 3rd party indicators.
Why use Trade Station Platform? What are the best 3rd party indicators, and how can they improve your trading experience? Find answers to these Trade Station Platform questions in our 2-minute guide.
Why Use Trade Station Platform?
Unlike most trading platforms, Trade Station Platform has been around for over 4 decades. Therefore, traders love it for its reliability. They have a desktop platform for active traders and a web-based platform for casual traders, with each having access to their indicators.
Trade Station Platform supports various financial assets, including futures, options, penny stocks, stocks, bonds, and crypto coins.
Unlike most trading platforms, Trade Station Platform calls its trading tools apps. These apps are usually integrated with their platform, which makes them easy to launch. In fact, Trade Station Platform comes with over a dozen apps, including RadarScreen, Chart Analysis, OptionStation Pro, and TradeManager.
Luckily, there are lots of trading apps that you can find in their TradingApp Store and other sources. The fact that it accepts third-party indicators is what we love about it.
Trade Station Platform Apps vs. 3rd Party Indicators
Generally, this platform comes with lots of apps and indicators that are designed for various types of traders. Therefore, any trader can include them in their strategy, but our 3rd party indicators are strategy-specific. So, you can easily find reliable indicators for day or swing trading.
The 3rd party indicators, you can get a customized approach that’ll improve your likelihood of placing winning trades. For instance, our indicators can help you detect various harmonic patterns in any chart and even confirm a possible reversal.
What Are the Best Trade Station Platform 3rd Party Indicators?
In a nutshell, 3rd party indicators are customized trading apps designed by experienced traders to improve their strategies. To help you get started on your trading journey, we have prepared the following trading indicators and software:
Auto Harmonic Pattern Recognition Trading Software
Unlike most indicators, this software does the heavy lifting for traders using the harmonic trading strategy. And that’s because it projects the pattern zones for some of the most tradable patterns. Some of these harmonic patterns include Crab, Alternate bat, butterfly, Gartley, deep crab, and BAT.
When using this software, you should monitor these patterns and find out which one finishes in the pattern zones. After all, the ones that finish in these zones tend to have a high likelihood of being profitable.
Knowing the market’s trend on higher timeframe charts can help you follow the right trend even on lower timeframe charts. Well, with the BIAS indicator, you can easily know the market’s trend.
This indicator uses 3 EMAs to determine the trader’s sentiments. It will then give you an indication of a higher timeframe as Bearish, neutral, and bullish BIAS.
False Breakout Stochastic
Determining the market’s trend is crucial, but knowing when it’s making strong trend moves can help you make timely decisions. Unfortunately, detecting strong trend moves with your naked eye can be quite challenging. Therefore, most traders use to 3rd party indicators like the False breakout stochastic.
This indicator pastes yellow dots on the overbought zone of a stronger Bullish market. It also prints yellow dots in the oversold zone of a stronger bearish move.
EMA Cloud Trading Chart
If determining the trailing stop position and the entry point is challenging, then you should try this add-on. This add-on works with different strategies, thanks to the fact that the EMA lengths are adjustable.
Therefore, whether you’re working with 89 EMA or 21 EMA, you can adjust your input to fit your strategy.
Elliott Wave Indicator Suite
Are you a swing trader who profits from the many Elliott wave patterns? If so, then you should try the Elliott wave indicator suite. This indicator detects when certain patterns are forming while marking the pullback zones.
Volume Behavior Indicator for Platform 10
Knowing the traded volume per candlestick can help you determine the direction of the trade. So instead of using the volume ratio that comes with Trade Station Platform, you can use the volume behavior indicator.
The volume behavior indicator colors the candle sticks as per their volume for a certain period. It will indicate if you’re dealing with a distribution or accumulation candle. Therefore, you’ll know when a trend move is losing juice. This will help you make the right trade management decision.