Technical Indicator is a result of mathematical calculations based on the price activity in a stock or asset. The series of data points are derived by applying a formula to the price data. Technical indicators are used to forecast future prices, or the general price direction by looking at past patterns. Some indicators use only the prices, while others incorporate volume as well.
Additional meaning of Technical Indicator:
The most common technical indicators are: Relative Strength Index, MACD and Bollinger Bands.