Trading from charts

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Trader’s charts are a significant approach of technological consideration that allows traders to study the dynamics of value in a variety of economic assets. This can help to study the movement of value, establish the entry and exit points of the operation, and in addition to find a decision on where to place stop loss and take profit orders.

In this post, I will analyze the more well-known types of charts in our Next Generation trading desk, as well as samples of overlays, industry analysis, and construction devices that can be used for price charts. This can help you find a plan that suits your trading style and make the most reasoned investment decisions. To familiarize you in more detail with the different types of charts available in our landing stage, I have created a video clip.

How to read trading charts?

Our site is equipped with the accrued charts together with the situation of the cost according to single devices because of the twentieth year. Creating an order with the support of our trader’s charts does not imply anything difficult: it is enough to choose “buy” or “sell” an asset according to its current market value, and then edit stop-loss and take-profit order options directly in the chart.

Our trader’s charts have both short and long timeframes to filter among the recently occurred and significant price impact. For example, in case you are interested in using a short-term strategy for scalping in Forex, you can choose each timeframe from 1 moment up to 5 minutes, to take advantage of the advantages of rapid and fast price fluctuations. On the other hand, in case you take a long-term deal according to an increasing promotion, in this case, you can watch the price information from 6 months up to 5 years back. Learn how to choose the timeframe of the video chart for your trading.

The task of considering trader’s charts is to learn the direction of rate changes (upward or downward), the impetus, and the volatility of the asset. In the presence of information created in a particular course, traders have all chances to establish a single direction in which the value of the asset moves. But certain directions happen to be difficult to establish, for this reason, traders often use several types of charts for the most painstaking consideration.

Selecting the type of trader’s video chart is dependent on your degree of skill and the difficulty of the operation. For example, a chart or a straight line chart has all the chances to be the most optimal for novice traders, in such a case period as well as candlestick charts and Renko charts have all the chances to be the most optimal for those who are more correctly oriented in trading.

Please note that the following charts are shown equally for spread bet trading as well as for CFD trading.

Candlestick charts

Candlestick charts are considered to be the most common type of trader. They are more difficult than elementary straight lines or histograms. Each candlestick implies a specific period, for example, 5 minutes, a single time, or a single period. Each candlestick also shows the highest, lowest, disclosed, and covered values for the selected timeframe. A heavy multicolored candlestick figure demonstrates the opening and closing values, and elegant wicks demonstrate the most significant and the least significant values. If the cost is traded earlier than the last close, in this case, the candlestick figure will be colored in greenish coloring, if further – in scarlet. Due to the trends and tones of the candlestick have all chances to demonstrate the oblique or bullish direction. Learn more about candlestick trading.

Trading from charts

Line chart trading

Straight-line charts are probably the easiest type of charts in economic markets. Unlike bar and candlestick charts, they do not indicate the place of maximum or minimum quantity. Instead, they are erected based on directions made directly among the closing rates. This type of chart is usually used in reports and presentations to reflect uniform cost fluctuations, but they often do not contain detailed information. In comparison with other types of trader’s charts, they are in no way accurate in establishing trader’s modifications, entry and exit points.

Renko charts

Renko charts are considered a common selection for economic bazaars, in which propensity is clearly shown. Renko charts produce bricks showing powerful uptrends or downtrends, neglecting the smallest value swings to reflect a single trend. Any newest brick appears after that, as well as the cost moved to a particular value and remains 1-the tone up to such times until the newest turn does not happen. In the presence of trading with the use of Renko charts traders are likely to want to follow the trend until such times, as long as its coloring remains constant. In case someone starts to open, the trader can analyze the chance of exit from the view, so as well as this can be a signal of reversal of the cost.

Trading bar charts

According to their external type, histograms are very similar to candlestick charts and also show opening and closing values, as well as highs and lows for a specific period. In contrast to the rectilinear graph, here the information is more in-depth, and one plumb plot is used. The upper part of the bar assumes the most significant value, gained because of a specific period, and the lower part – the lowest. In addition, on the left side of the histogram, there is a horizontal section, which means the opening cost, and on the right side, there is a short horizontal section, which means the closing cost. It is possible to evaluate the course of the operation, as well as in candlestick charts, according to the coloring of the bar. The greenish cocktail bar shows in such a case that the closing value existed before the disclosure value, and the scarlet cocktail bar shows in such a case that the disclosure value existed before the closing value, which indicates both bullish and bearish directions.

Chart trading platform

When trading according to price charts, it is very important to realize how the price influence functions. For this reason, I recommend such a variety of chart types and layouts, so that your information is shown in an extremely easy and alternating figure.

As presented in the video below, I also have near-platform devices such as the module linking mechanism, the chart pattern screener, and the subscriber arrangements mechanism, which can be particularly useful for developing the skills of technological consideration and comprehension that other traders are focusing on at this time. With the support of our erection devices, it is possible to note the directions of rate changes, graphical patterns, degrees of help, and opposition for any asset you are trading. Learn more about the potential of charting here.

How to link trading charts?

When trading on our platform, you can combine all of the above tools using the connection of modules. Most of the modules of the Next Generation trading platform can be interconnected, which makes navigation on the platform easier and more efficient. When linking two or more modules on the trading chart, the products will automatically change, reflecting each other. The linking option will appear in the upper right corner of the module, if available. Just click on one of the four squares representing four different colors to include this module in the group.

Below you can familiarize yourself with the module linking function, as well as other useful tools that can be applied to your trading charts to achieve optimal trading success.

Several laws must be taken into account when linking modules to trader charts:

  • If you combine an existing plan with a command that includes a different plan, then the product in the complemented chart will be refreshed in coordination with the product of the category. Only a single result can be displayed in any linked team.
  • All industrial characteristics, construction devices, and options from the current category without exception will be used for the newest conjugated schedule.
  • The interval of the newest conjugated video graphics remains the past, which makes it possible to quickly and easily watch several transient video graphics frames.
  • Almost all features used or modified in 1 graphic in a team will automatically appear in other team graphics, including drawing devices, industrial characteristics, video graphics type, patterns, preparatory options, dynamic directions, and auxiliary characteristics.
  • Past features will be cleared, due to certain conclusions, including timeframe, timeframe, reset type, and trader charts.

Trade directly from charts

By registering a result with our firm, you will be able to customize active trader charts and gain access to absolutely all the features of our platform that are only available to account holders. These include daily updates from Reuters and Morningstar, as well as charting forums and module-linking capabilities. In case you wish to start trading directly now or first work out your strategies in our trader charts, you will find the optimal result for you. You will also be able to familiarize yourself with our Commodity Library, which presents information about economic assets, including promotions, currency and commodities.

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