## Grafiekanalyse ACTIVEPASIVE INTERNATIONAL EQUITY ETF DIONICE

### Bollinger-band:

Bollinger bands are used in chart analysis to determine trend changes. Three values are calculated that should help to make the trend change visible. The middle line represents the moving average of the past 20 days. The lines above and below are determined by calculating the standard deviation of the prices of the last 20 days from the moving average and subtracting or adding it to the moving average. The following can be read from Bollinger Bands:

A price close to the upper or lower band indicates that the trend is moving back to the moving average. If the bars move towards the moving average, a sharp price change can be expected. A price breakout (up or down) out of the range indicates further price growth/decline.”

### RSI:

RSI (Relative Strength Index) is a market indicator. It is calculated by taking a moving average of the downward and upward changes over a period of time (usually 14 days). RSI can take values between 0 and 100. Values 30 and 70 play a special role in RSI: a value below 30 is considered oversold. This means that a price recovery (rise) may be inevitable in the near future. If the value is above 70, the stock is considered overbought. This is an indication that the price may fall in the near future.

### ATR/Wilder Volatility:

Wilders' volatility, also known as ATR (Average True Range), does not provide independent signals as an indicator. However, an upward trend of the indicator indicates an increase in volatility, while a downward trend indicates a decrease in volatility.

### Weighted moving average:

A weighted moving average assigns linearly increasing weights to prices. This means that the further the prices are in the past, the smaller their influence on the average price development.

### Deviation:

Variance measures the deviation of the return from the average return. In addition to volatility, it is an indicator of security risk.

### RSL (for a fee):

The Levy Relative Strength Index is calculated based on the current price against the moving average. You get a value that hovers around the number 1. If the current value is above 1, the stock has deviated positively from its moving average over the observed period. This means that the stock is in an uptrend. A value below 1 indicates that the stock is in a downward trend.

### Commodity Channel Index:

CCI belongs to the group of trend followers. The CCI expresses how much the price has deviated from the selected moving average. First, the average of the highest, lowest and closing price of the day is calculated. The average deviation from the moving average is determined from this so-called significant exchange rate. Index values are usually between -100 and +100. If the indicator moves between two lines, it is a trendless market. If the CCI crosses the -100 limit, a buy signal is received. If the CCI goes below the +100 line, it gives a sell signal.

### Average direction index:

The Average Directional Movement Index (ADX) describes the intensity of a stock's trend, but not its direction. That is a rising ADX does not mean an uptrend. Conversely, a fall in the ADX does not indicate a downtrend. If the indicator is rising, only the initial trend can be executed, while the falling ADX indicates the decreasing intensity of the trend or the end of the trend.

### There:

The AROON UP/DOWN indicator shows both the direction of the trend and the strength of the value trend and consists of the AROON up and AROON down lines. The AROON up line measures the days since the last low price, and the AROON down line measures the days since the last low price. The lines can have a value between 0 and 100. If the AROON-Up is above the AROON-Down, an uptrend can be concluded, provided that the AROON-Up line is in the extreme range between 80 and 100, and the AROON - Down line is between 0 and 20. There is a downtrend if the AROON down is between 80 and 100 and the AROON up is between 0 and 20. If the two lines are between 20 and 80, this indicates a sideways move. The intersection of the two lines, on the other hand, indicates a possible trend change.

### MACD:

MACD (Moving Average Convergence/Divergence) is used in chart analysis for trend recognition and buy and sell signals. Two exponentially weighted moving averages (26 and 12 days) are calculated and subtracted from each other. Furthermore, the signal line is calculated. This is a 9-day exponential smoothed average. A rising MACD is an indicator of an uptrend and a falling MACD is an indicator of a downtrend. If the MACD crosses the signal line from below, a buy signal is given. If the MACD crosses the signal line from top to bottom, there is a sell signal.

### Swing set:

Momentum is calculated as the difference between the current price and the price from the past (for example, the price from 10 days ago). As an indicator, momentum provides information about the strength of a price development. Positive momentum indicates an uptrend, which can be accelerating (positive and rising momentum) or decelerating (positive and falling momentum). Conversely, negative momentum indicates a downtrend that can accelerate (negative and falling momentum) or slow down (negative and rising momentum).

### Moving Averages:

Moving averages are calculated as the arithmetic mean of a given number of previous prices. It is calculated for 5, 38, 100 and 250 days.

### Exponential Moving Averages:

When calculating the exponential moving average, more weight is given to current prices than to older prices.

### standard deviation:

Standard deviation is a statistical measure of dispersion. It is calculated from the square root of the variance. Standard deviation is mainly used to calculate the risk of a security.

### volatility:

Volatility shows exchange rate fluctuations. It indicates the range in which the actual price has moved around a certain past trend in the past. The higher the volatility, the riskier the stock is considered.

### Slow Stochastic:

Stochastic calculates the relationship between the closing price and the daily fluctuation range. It fluctuates between values from 0 to 100, although the extremes are rarely reached. Key points in the stochastic are lines 20 and 80. If the chart breaks above line 80, we are talking about an "overbought" market situation. If the chart falls below the 20 line, it is said to be in an "oversold" situation. The overbought market situation indicates that a downward correction is inevitable. An oversold market situation indicates an increase in prices.

### Williams-percentagebereik:

Williams' %R belongs to the group of oscillators. They give an indication of whether a trend break is imminent in the foreseeable future. Williams %R is between 0 and -100. Values from 0 to -10 indicate an "overbought" market, and values around -90 to -100 indicate an "oversold" market.

### Aroon-oscillator:

The Aroon oscillator measures the number of days that have passed since the last high or low. An upward trend can therefore be recognized when several peaks follow each other. A downward trend, on the other hand, can be seen when several lows follow each other. If the zero line is crossed from top to bottom, there is a sell signal. If the indicator crosses the zero line from below, there is a buy signal.

### Speed of Change:

The rate of change indicator measures the force behind price movements. It says the same thing as momentum. The only difference is that relative exchange rate change is taken into account instead of absolute. The interpretation is very diverse. In trend phases, deviations (divergences) between the development of the exchange rate and the indicator can indicate a trend that is no longer intact. The indicator is also often used as a signal generator. In its simplest form, attention is paid to intersections with the zero line. If the indicator crosses the zero line from bottom to top, it is a buy signal - and in the other direction a sell signal

### Almost stochastic:

Stochastic calculates the relationship between the closing price and the daily fluctuation range. It fluctuates between values from 0 to 100, although the extremes are rarely reached. Key points in the stochastic are lines 20 and 80. If the chart breaks above line 80, we are talking about an "overbought" market situation. If the chart falls below the 20 line, it is said to be in an "oversold" situation. The overbought market situation indicates that a downward correction is inevitable. An oversold market situation indicates an increase in prices.

### Balance Volume:

On Balance Volume is an indicator that combines trading volume and price action into one trend following indicator. During the calculation, the volume is added continuously. If there is a positive price change, it will be added, if the price has decreased, it will be subtracted. On Balance Volume is similar to volume price trend, but the weak point is that it does not take into account the strength of the price movement. When interpreting, attention is then paid to deviations in the development of the price during the trend phases. If there is no synchronization between the price and the indicator, it indicates a downtrend in the trend and then a possible reversal in the future.

### Cashflow-index:

The money flow index provides buy or sell signals by measuring the strength of sales volume. A buy signal is given when the middle line (50) crosses from bottom to top. A sell signal is given when the centerline crosses from top to bottom. There are extensive buy and sell signals along the midline. If the MFI line crosses the value of 30 from bottom to top, a buy signal is given. If the MFI line crosses the 70 value from top to bottom, there is a sell signal.

### Accumulation distribution line:

The Accumulation Distribution Line indicator is a volume indicator that attempts to represent the flow of liquidity flowing into or out of an asset. When interpreting, attention is then paid to deviations in the development of the price during the trend phases. If there is no synchronization between the price and the indicator, it indicates a downtrend in the trend and then a possible reversal in the future. The following applies: the longer the deviation, the more significant it is.

### Volume price development:

With a volume price trend, the price change of the previous day is multiplied by the daily volume of each day and is continuously added. When interpreting the indicator, attention is paid to deviations between the exchange rate and the indicator during the trend phases. If the indicator stops forming lower and lower lows like the price (perhaps even rising) during the downtrend, there is a bullish divergence, which can signal the end of the downtrend. On the other hand, if the indicator is no longer tracking higher and higher price highs in an uptrend, then there is a bearish divergence on the other side, which could indicate a possible end of the uptrend. In both cases, the longer the deviation, the more significant it is.

### Smoothed moving average:

A smoothed moving average is a kind of hybrid between a simple moving average (SMW) and an exponential moving average (EMA), but over a longer period of time.

### Double Exponential Moving Average:

The DEMA is based on a single exponential moving average (EMA) and a double EMA. It is a fast-acting moving average and reacts more quickly to market movements than a moving average. The DEMA line is also smoother than a standard moving average.

### Triple Exponential Moving Average (DEMA):

This indicator consists of a simple exponential moving average (EMA), a double EMA and a triple EMA. The combination of indicators helps to remove the lag between the indicator and the price movement.

### Triangular moving average

Triangular moving average is a double smoothing moving average. As a peculiarity it should be mentioned that even and odd periods require a slightly different calculation.

### Kaufman adaptive moving average:

Kaufman Adaptive Moving Average is an adaptive moving average. It shows the phases of the trend using the slope of the line and focuses more on the effectiveness of the trend than the underlying volatility of the financial instrument.

### MESA adaptive moving average:

MAMA is an auto-adjusting moving average whose period length is determined using complex calculations. It is based on an exponential moving average whose alpha smoothing parameter changes in different phases of the market.