Reliable and accurate (real-time) courses and charts are the basis for every successful forex trader. You can get real-time quotes from your broker via the
Trading platform - of course free of charge. Charts and courses are a fundamental basis for forex and stock exchanges. In the trading platforms for the Forex
there are numerous functions for a useful chart analysis. The two metatraders (MT4, MT5) are ideal for displaying charts. Man
can choose different types: candlestick chart, bar chart or line chart. Different time intervals can also be set to accommodate short-term or
to better identify long-term trends. Trading on the Forex in particular is very much based on the charts. Proper analysis and evaluation is very crucial
for positive and successful business. There are different ways to display the charts.
The candle-stick chart
The candlestick chart is, as the name suggests, candle-like in appearance. A stick or candle is valid for a certain period of time
e.g. 5 minutes. The foundation or the bottom of the candle indicates the opening price at the beginning of the period. The top of the candle indicates the closing price.
The wick of the candlestick chart, which can be above or below, indicates the maximum price or minimum price during the period. Is the closing price
higher or lower than in the previous trading period (5 minutes), the wicks are marked in color depending on the course,
to quickly see in which direction the price is moving. Usually, white wicks represent a rising price and red ones
falling course. These colors can of course be individually adapted according to preference or taste.
The bar chart is similar to the candlestick chart, with these two chart types being the most common on forex and other exchanges
used belong. The bar chart is also made up of periodic vertical lines. The bottom/bottom of the beam represents the
lowest price of the trading period, the top for the highest price. The bars are marked on the left and right by a line on the side.
The dash on the left denotes the opening price of the trading period, the dash on the right stands for the closing price of the period. bar charts
are excellently suited to anticipating the further development of the course, since the course fluctuations can be recognized very precisely by the lines on the side.
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