Do not invest more money than you can afford to lose.
Saxo Bank, a Danish bank specialized in providing online trading services, said on Thursday it has made a number of improvements and included many new features to its mobile trading platform SaxoTraderGO, including the addition of several new studies.
Following is a full list of the new studies that have just been made available on SaxoTraderGO:
- Chaikin Accumulation Distribution Line (ADL) Study – this is is a volume-based indicator designed to measure the cumulative flow of money into and out of a security, essentially measuring the buy and sell pressure and confirming the strength of a trend. It indicates both bullish and bearish signals and relies on divergence and confirmation. Due to its essence, this study is only available on exchange-traded products and is not available on over-the-counter (OTC) products such as forex.
- Triple Exponentially Smoothed Moving Average (TRIX) Study – this is a momentum oscillator which shows the % change in a triple-exponentially-smoothed moving average. It filters out insignificant prices and if you add a normal exponentially moving average to the TRIX study panel it works in a similar way to MACD, but is more smoothed than it. The lines fluctuates around 0 (zero) and when adding an EMA you look for divergence where the signal line crosses over for buy/sell and zero crossover line.
- Money Flow Index (MFI) Study – this is an oscillator developed which uses both volume and price to measure buy and sell pressure on a security. The output value ranges from 0 to 100 and works like an RSI — MFI is also known as volume-weighted RSI.
- Study offsets – A new Offset feature is now available from the configuration dialog for studies where you can move a study left into the past or right into the future by up to -100 to 100 periods. The underlying calculation does not change this feature only moves the study left or right on the chart.
Saxo Bank has also made some enhancements to the mobile trading platform. Here they are:
- Easier access to Fibonacci Projection annotation – new Fibonacci Projection annotation is now available from the annotation menu in the chart. Previously this was available through the Fibonacci Extension annotation by placing the two last placements at the same level, but it can now be added more efficiently in two clicks.
- Snap Annotation option – previously snap for annotation was only available in the configuration settings, controlling snap on all annotations. You can now also select / de-select snap on each individual annotation in the annotation configuration settings.
The broker will also introduce from June 2016 a new period overview report, which would allow users to analyze long-term trading trends using data for the development of a selected account (or across all accounts) itemized as profit and loss per traded instrument and cash bookings. Traders would be able to view the value of the position at the start and end of the period, as well as a summary of all individual bookings for the instrument throughout the period.
In addition, SaxoTraderGO has a new Excel function which allows the export of each booking in the period showing the value at the start and end of the period and offers unprecedented granularity and flexibility of the data. Both the period overview report and the Excel data can be exported to PDF.
Late last month, Saxo Bank made available a comprehensive overview of global equity markets.
SaxoTraderGO is the mobile version of Saxo Bank’s proprietary online trading platforms SaxoTrader. It is based on HTML 5 and is available for devices with Android and iOS operating systems, in addition to web devices. SaxoTrader and SaxoTraderGO were launched in May 2015, and in November the same year the bank discontinued the other two trading platforms it operated at the time – the SaxoMobileTrader and SaxoTabletTrader.
SaxoTraderGO is used, through a white label partnership, by more than 100 financial institutions across the globe. It provides Saxo Bank’s partners with access to the bank’s multi-asset trading and back office infrastructure through its own Open API. Within its first year of operation, the mobile platform’s growth exceeded the expectations.
Saxo Bank holds a banking license from Denmark’s Financial Supervisory Authority (FSA) and acts as a brokerage firm and a market maker, offering trading in more than 30,000 instruments, including forex, binary options, contracts for difference (CFDs), stocks, futures, and bonds. It works with retail and institutional clients alike.
The group operates 25 offices and has subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The Saxo Bank group also offers traditional banking services through its unit Saxo Privatbank.
Source: Saxo Bank
