Technical analysis is a way of using historical price data to analyze a market and try to identify patterns, and then use these patterns to predict where the market is going next.

Some indicators such as the MACD index, the RSI, or momentum indicators will derive their data from existing market data but will be displayed separate from live data.

Other indicators like support and resistance levels, moving averages, and bollinger bands will be displayed directly on top of existing price data. Technical indicators are very useful to forex traders because they can allow you to glance at your charts and see what the market is doing and whether or not there are any viable trading opportunities.

Other types of technical indicators such as candlestick formations or fibonacci levels can serve as a confirmation about where exactly to enter the market and where to exit the market. These and other indicators can be used in conjunction with fundamental economic data to determine reliable and accurate trading signals.