You're reading from Getting Started with Forex Trading Using Python

Product type Book

Published in Mar 2023

Publisher Packt

ISBN-13 9781804616857

Pages 384 pages

Edition 1st Edition

Languages

Concepts

Financial Technology

Author (1):

Alex Krishtop

Table of Contents (21) Chapters

Preface

1. Part 1: Introduction to FX Trading Strategy Development

2. Chapter 1: Developing Trading Strategies – Why They Are Different

3. Chapter 2: Using Python for Trading Strategies

4. Chapter 3: FX Market Overview from a Developer's Standpoint

5. Part 2: General Architecture of a Trading Application and A Detailed Study of Its Components

6. Chapter 4: Trading Application: What’s Inside?

7. Chapter 5: Retrieving and Handling Market Data with Python

8. Chapter 6: Basics of Fundamental Analysis and Its Possible Use in FX Trading

9. Chapter 7: Technical Analysis and Its Implementation in Python

10. Chapter 8: Data Visualization in FX Trading with Python

11. Part 3: Orders, Trading Strategies, and Their Performance

12. Chapter 9: Trading Strategies and Their Core Elements

13. Chapter 10: Types of Orders and Their Simulation in Python

14. Chapter 11: Backtesting and Theoretical Performance

15. Part 4: Strategies, Performance Analysis, and Vistas

16. Chapter 12: Sample Strategy – Trend-Following

17. Chapter 13: To Trade or Not to Trade – Performance Analysis

18. Chapter 14: Where to Go Now?

19. Index

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Classical technical trading setups

In Chapter 7, Technical Analysis and Its Implementation in Python, we considered a number of classical technical analysis indicators, such as the RSI, a stochastic oscillator, moving averages, and Bollinger bands. We saw that each of these indicators is able to bring into focus a certain property of the price time series: for example, Bollinger bands are a volatility indicator, and moving averages are digital filters that remove higher frequencies from the price data. However, we didn’t consider any classical trading setup with any of these indicators. Why?

The answer to this question is twofold. First, these setups can be found in literally any book or internet publication about technical analysis. You can start with an overview of technical indicators at Investopedia (https://www.investopedia.com/terms/t/technicalindicator.asp) and then follow the links to articles on specific indicators to see how they are supposed to be used to generate...