OANDA Japan further enriches OANDA Lab section
The Japanese subsidiary of online trading major OANDA is further enhancing its OANDA Lab service, which aims to provide useful educational and analytical content to traders.
Traders using the MT5 trading platform via the Tokyo Server can benefit from a new indicator called OANDA Trading Analysis. As one might guess, it helps to analyze the trading results of a certain strategy (profit, loss, risks, etc). This way, traders can assess whether their trading strategies are successful or not.
Another interesting addition is a ranking of the trading instruments offered by OANDA (Forex, CFDs, stock indices, commodities, and bonds) according to their price change (increase or decrease). This ranking enlists the top 10 movers for the past day.
Traders with live accounts get access to additional information. They can use extra tools to customize the ranking.
OANDA Japan regularly updates its education page. In November, for instance, OANDA Lab introduced a section dedicated to expert advisors (EAs) – bots that do the trading according to preset algorithms removing the need for manual trading. Let’s note that EAs typically work on the MetaTrader 4 (MT4) platform. OANDA is one of the handful of Forex brokers in Japan that offer MT4.
Thanks to the new section, clients of OANDA Japan get access to content about the basics of automated trading. The broker has prepared a commentary page for beginners and intermediate and advanced users about the automatic trading of Forex using EAs.
For beginners, the information includes EA parameter setting, precautions for backtesting, as well as directions on how to build a portfolio. For intermediate and advanced users, the broker has provided practical techniques while showing specific MQL sources.
Also in November, OANDA Japan introduced a technical analysis commentary page. In the technical analysis section, the OANDA team provides detailed information about moving averages, Ichimoku indicators, Bollinger Bands, etc, which are indispensable for Forex and CFD trading.
The aim is to explain typical technical analysis in an easy-to-understand manner using actual charts.
The OANDA Lab education site also offers various other information useful for Forex trading. For instance, traders get to learn about using trading platforms such as MT4 and TradingView. Let’s note that the OANDA Lab information can be used for FX market analysis.