Published Paper Details:

With growing digitization, not only in the financial markets, technical indicators are more accessible to more and more traders. In addition, the ever-shortening investment horizon often leads to a shift away from fundamental analysis and emphasizes the use of technical analysis. Currently, there is still discussion on the effectiveness of technical analysis in contrast to the validity of an effective market theory. While practitioners compose, most trading systems are just based on technical indicators and price action, the academic community is increasingly inclined to the theory of random asset development. The aim of the research is to analyze the differences in the effectiveness of technical analysis MACD and EMA indicators of real assets with the application of the same indicators to randomly generated values. Random values are then generated. The output of the article is to evaluate the performance of the trading cycle based on selected indicators of technical analysis by comparing stock market and currency pair data and randomly generated data.