Unlock the power of real-time trading signals with a proven 3-indicator strategy. In this article, I'll show you how to automate your technical analysis and dispatch buy-or-sell signals to a chatroom, freeing you from constant chart monitoring. computerstechnicians has more on this topic.
Technical Analysis, as defined by Investopedia, is a trading discipline that evaluates investments and identifies trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume. It involves focusing on patterns of price movements and trading signals to evaluate a security's strength or weakness.
My research highlights three popular Technical Analysis (TA) indicators:
- Simple Moving Averages
- Relative Strength Index
- Stochastic Oscillator
Investors and traders who use TA charts regularly to inform their investment decisions can benefit greatly from receiving notifications when a Buy or Sell condition arises, rather than constantly scrutinizing the charts.
In this workflow, I'll explore how to leverage these indicators to generate Buy or Sell trading signals. Unlike other articles that focus on a single indicator and stop at presenting historical results, I'll take it a step further.
I'll experiment with running the analysis at a configured interval – for instance, every minute, hour, or day – to generate real-time trading signals. When a signal is generated, I'll use a chat BOT to post the signal details into a chat room, notifying users and saving them the effort of frequent chart monitoring.
I'll utilize the Refinitiv Eikon desktop application to access the required data via its Data API. You can easily substitute this with your own data source and associated API. Additionally, I'll employ symbology conversion functions to convert from ISINs to RIC (Reuters Instrument Codes) for requesting the necessary data.
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