Technical – First of all, it is a trend indicator. Classic signal indicator. Fundamental analysis is based on Economic Calendar data, and technical analysis is based on indicators. It should be understood that any indicator is an algorithm that is displayed on the chart in the form of icons. There is a certain formula inside it that calculates the information needed by the trader based on past data.
Please note: the indicator does not predict the future! Even the best algorithms only summarize everything that happened a second, a minute, an hour, a day, a year ago and present it in visual form. However, none of them can show what will happen to the price in the next minute. This must be taken into account. Therefore, you will not find a perfect algorithm and this indicator does not claim to be the grail.
Anyway, with the help of technical indicators, you can get valuable information that is very difficult or even impossible to determine by eye.