The major types of charts Forex

2. Forex technical analysis

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The simplest way to analyze the price changes - a look at the graphical representation of their changes. There are several different types of price charts. To display price fluctuations, as a rule, use charts, different from the simple lines. They are called charts (chart). Common to all of the graphs is that on the horizontal axis (x-axis) represents time and vertical axis (y) - changes in prices.

Time intervals when this can be the following:
Weekly
Daily
6 - Hour (6 Hourly)
4 - Hour (4 Hourly)
2 Hour (2 Hourly)
Time (Hourly)
30 - minute (30 Minutely)
15 minutes (15 Minutely)
10 minutes (10 Minutely)
5 minute (5 Minutely)
Tick

Types of CHARTS:
Tick chart (Tick)
the Most detailed information about the dynamics of prices gives a tick chart that displays each new value of the quotation. Unlike other technical analysis charts, it is not tied to a fixed axis in time. On every movement of the price vertical accompanied by the movement of the small standard horizontal pitch. When active market for a given interval of time there is a lot of movement of prices, non-active market quotes are updated infrequently and for the same time interval is drawn a little ticks.

types of charts Forex

Line graph (Line chart)
If you build the points associated with the closing price for each time period and connect them with pieces of direct, you get a broken line which, at the appropriate scale is visually perceived as the smooth curve.
a Simple line graph may not reflect all the data on the change in prices. But, sometimes, he still needed. This happens when little data, or when they do not change over time. The main disadvantage of this graph is the inability to see the movement in it of the price during the day.

types of charts Forex

schedule (Bar chart)
the Most common and relatively simple way of graphical analysis of price - graph or histogram (Bar chat). Column reflects price changes for a certain period of time.

types of charts Forex

types of charts Forex

histogram note the following four important points:
the highest high and lowest low) prices within this period, which connect the vertical line;
the value of the open celebrated shortest interval of a horizontal straight line towards the left;
the closing price (close), which celebrate the shortest interval horizontal line, directed right.

Sometimes this type of graph also called . Opening price does not matter much for the technical analysis, except when an opening occurs with . Under the window refers to the price gap between the extreme values of the rates of the current and the previous trading session, i.e., when the price of opening of the current session above the closing price of the previous in an uptrend, and Vice versa: the price of opening of the current session of the lower when a downtrend.
Clear advantage of the histogram is the ability to see it all prices for a given unit of time. The most popular of these is the one-day histogram, followed by weekly. You can choose any other time intervals. However, although this diagram reflects all four rates, it has one drawback. During the considered time period rates could change within a column unevenly. In any price intervals trading volumes were significantly greater than in others. Therefore, the thickness of the column should not be uniform. But the use of uneven thickness of the column will schedule is very difficult for visual analysis. In addition, the visual perception schedules much depends on density of the schedule and duration of the visible period.

Japanese candles (Candle Stick)
Japanese candles have a close affinity with bar. They also contain four major prices: high, low, open and close. In addition to the usual, candlestick amenable to a number of specific interpretations. The last possible thanks to the convenience of the visual observation of this timetable. Candlestick analysis is a form of technical analysis. There is an opinion, that the schedule of rates ideally for visual Analytics is the candlestick, and nothing but them. Candles with the screen where the course should go. Their combination are unforgettable and remain in memory for a long time. Over time, continuously watching the live price on the form of candles, just a chart and a pair of trend indicators and oscillators under the graph, you'll see the future rates for a moment before it happens.
What is offers a candlestick chart, which is not on the West chart ? With regard to display the actual data to nothing. However, in terms of visual appeal and ability to more easily observe the proportions of the data, candles are an exceptional value. They give you a quick overview of the last trading psychology.
Thick part of the line of candles is called the body (). It represents the difference between the opening price and closing price of the day. When the body is black , it means that the closing price of the session was below the opening price . Believe that the black color is the bear color. If the body is white , it means that the level of the close was higher than the opening level . Believed that the white color is "bullish" color
Fine lines above and below the body are called shadows . Shadows represent the extremes of the sessions. The shade above the body is called upper shadow ( ) and represents the top price for a certain period; the shadow below the body known as the lower shadow ( ) and represents the price of the bottom for the period. Some Japanese call the upper shadow of your hair and the lower shadow - tail. The Japanese use red instead of white, to show the hollow the candle. But because he merges with the black, in the West, they caught a reflection of the hollow body of the candle - unpainted out (white).

types of charts Forex

types of charts Forex

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