What are External Indicators?
External Indicators allow developers to create custom trading signals that display directly on InnovaTrading charts. Instead of building indicators inside the platform, you:- Fetch market data from our API
- Run your calculations on your own server
- Send the results back to be displayed
How It Works
Indicator Structure
Each indicator consists of:| Component | Description |
|---|---|
| indicator_id | Unique identifier (e.g., smart_money_v2) |
| indicator_name | Display name in the UI |
| symbol | Trading pair (e.g., EURUSD) |
| timeframe | Chart timeframe in minutes |
| points | Array of visual markers on the chart |
| metadata | Optional analytics data |
Points vs Signals
- Point: A single visual marker (Entry, SL, TP1, etc.)
- Signal: A complete trade setup (multiple related points)
- 1 Entry point
- 1 Stop Loss
- 2-3 Take Profits
Indicator Lifecycle
1. Creation
2. Storage
Data is stored temporarily (24 hours) associated with your API key.3. Display
The chart fetches and renders your indicator automatically.4. Update
Re-submit to update. New data replaces old data.5. Expiration
After 24 hours, data is automatically cleaned up.Access Control
Each API key has specific permissions:| Permission | Description |
|---|---|
symbols | Which trading pairs you can access |
timeframes | Which timeframes you can use |
rate_limit | How many requests per hour |
Contact us to request access to additional symbols or higher rate limits.
Best Use Cases
Custom Strategies
Implement proprietary trading strategies that aren’t built into the platform.
Machine Learning
Use Python ML libraries to generate signals from trained models.
Multi-Timeframe Analysis
Combine signals from multiple timeframes into a single indicator.
External Data
Incorporate sentiment, news, or other external data sources.
Limitations
- 24-hour expiration: Data must be re-submitted daily
- No real-time streaming: Use polling to update (every 5-15 minutes)
- Rate limits apply: Respect the limits to avoid throttling
- Symbol restrictions: Only access symbols assigned to your API key