Denmark-based Saxo Bank has launched Trade Navigator – a new technical insight data tool for traders.
Trade Navigator is an analysis tool on TradingFloor.com that monitors close to 200 instruments by using a set of market indicators.
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The new data will be published on a daily basis, aiming to serve the needs of every breed of investor. It will be available in both English and Spanish languages.
Saxo Bank vice president, Ole Sloth Hansen, said Trade Navigator is a "vital aid to help our clients refine their trading strategy".
The Trade Navigator tool deploys technical analysis indicators such as the Relative Strength Index (RSI), which signifies whether a security is overbought or oversold; Bollinger Bands that spots trends or reversals in market behavior; Using Average True Range (ATR) that measures current market volatility and helps traders determine what the reasonable exposure is when entering a trading opportunity.
Trade Navigator’s pivot points, tools that use support and resistance levels from a previous time period to predict the support and resistance at the current moment, can be used to figure out what stop loss/take profit to set for positions or when would be a good idea to switch to trading mode.
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