#TradingTools101
What Are Trading Tools?
Trading tools are platforms, software, indicators, or resources that help you analyze markets, manage trades, and make better decisions. They fall into a few main categories:
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š ļø 1. Charting Platforms
Used for technical analysis (price action, patterns, indicators).
š¹ Examples:
TradingView: Most popular for crypto, stocks, and Forex. Free + pro options.
Coinigy: Crypto-focused.
ThinkorSwim (by TD Ameritrade): Great for U.S. stocks/options.
š What to Look For:
Drawing tools (trendlines, Fibonacci)
Indicators (RSI, MACD, Moving Averages)
Multiple timeframes
Custom alerts
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š 2. Technical Indicators
Help identify trends, reversals, momentum, and overbought/oversold zones.
Indicator What It Shows
RSI Momentum/overbought or oversold (0ā100)
MACD Trend strength & crossovers
Moving Avg. Trend direction (SMA/EMA)
Bollinger Volatility + breakout zones
Volume Strength behind price moves