Dhan's 40+ Custom Chart Indicators You Won't Find Elsewhere

Trading platforms often promote their charting features by emphasising the number of technical indicators they offer. Most charting platforms emphasise the sheer number of technical indicators they offer. However, the majority of experienced traders stick to the same small set of indicators when making their trading decisions.

This is a paradox: indicators are everywhere, yet traders consistently rely on just a handful of them. This is due to a massive void in the broking industry, i.e., the absence of indicators that address specific modern market problems. In this blog, we will explore the absence of charting innovation and how Dhan has addressed this by offering 40+ custom-built indicators that cater to the changing needs of serious traders.

The stagnation of charting innovation

When you examine the standard indicator library provided by most traditional trading platforms, you will see that many of the most widely used indicators today are still based on concepts developed decades ago. These indicators are still useful to traders, but they were engineered for the market structure of several years ago, and since then, significant changes have occurred in the market structure.

Algorithmic trading, high-frequency volumes, and complex derivatives structures heavily influence today’s markets. Therefore, a modern trader using a multi-leg options strategy or analysing intraday liquidity needs more than generic indicators, which are built for solving specific, modern market problems.

Today, traders are seeking indicators that are based on market structure analysis, volume profiling, multi-timeframe correlations, and automated setups, etc. As a result, many traders are using manual setups or relying on expensive, third-party charting software.

Dhan’s approach to its 40+ customs indicators

Dhan recognised this trader's need for an advanced technical analysis and aimed to offer these advanced indicators to its users at no additional cost. Thus, in addition to standard charting indicators available across most platforms, Dhan has engineered over 40+ custom-built indicators that were built for utility, not volume.

This was not a feature count game; it was about meeting the specific modern market use cases that active traders care about, but which traditional platforms' indicators don't cater to.

How are Dhan's 40+ custom indicators different?

To understand what Dhan has solved by offering these 40+ custom indicators, it is important to look at how they reduce traders' manual effort and offer actionable insights during live market hours. Let's take a look at how Dhan's custom-built indicators enhance the traders’ analytical experience:

Automating market structure

A significant portion of a trader’s pre-market routine involves mapping support and resistance zones, previous day highs and lows, and crucial supply-demand areas. Dhan's custom indicators automatically plot these important market structures on the chart. Thus, it helps traders save time and avoid human error.

Advanced pivot and CPR variations

The Central Pivot Range (CPR) is an important indicator for day traders as they use it to gauge market trend and sentiment. While traditional platforms might offer a basic daily pivot, Dhan’s custom library provides advanced, multi-timeframe CPR indicators. Traders can easily add weekly or monthly CPRs to a 5-minute chart, providing them with insights into the market's trends without switching between different time frames.

Contextual volume analysis

Volume is one of the most important indicators for traders; however, standard volume bars provide little context for the market movements. Dhan's custom suite offers advanced volume indicators that help traders analyse unusual volume activity and assess the strength behind price movements. This helps traders distinguish between genuine breakouts and false signals.

Options-centric visualisations

Options traders often struggle to map derivatives data onto a spot chart. Dhan bridges this gap through its custom indicators that help traders incorporate options-related data directly into their chart analysis. This allows an options trader to analyse price action without losing the derivatives context, all on one screen.

Reducing analytical clutter

Dhan's 40+ custom indicators are built to combine multiple data points into a single visual signal. Traders can use these custom indicators that show the trend strength and momentum together, thus keeping their charts clean and easy to read, rather than having to use multiple indicators to confirm a trend.

The bottom line

As a trader gains experience in markets, some traders may seek more specialised indicators that go beyond standard indicators. When market participants execute complex strategies in highly volatile environments, standard indicators may not always address every analytical requirement of active traders.

Dhan's 40+ custom-built indicators reflect its commitment to its active trading community, as instead of following the industry's approach of providing a large number of standard indicators to its users, it additionally offers these custom indicators, which are built on feedback taken from its #MadeForTrade community.