|HOME | MT4 INDICATORS | LEARN FOREX TRADING | FOREX ARTICLES | LIST OF BROKERS | FOREX FRIENDS|
|Learn Forex Trading > Day 1 Class > Types of Charts|
Introduction to Charts
A chart or graph is a type of information graphic or graphic organizer that represents tabular numeric data and/or functions. Charts are often used to make it easier to understand large quantities of data and the relationship between different parts of the data. Certain types of charts are more useful for presenting a given data set than others. The charts are one of the main interests at Sigma. Charts are a statistically noticeably technical analysis tool for a trader that wants to carry out successful trading. Currency charts bring clearly a single period of time and that period could range from one minute to one month to several years.
|Types of Chart|
There are several kinds of price charts in forex and also stock trading. Some of them are really useless and I think almost nobody use them to trade.
In the line chart, the price changes are shown using a line. Even the line charts have to be plotted according to a special time frame but we are able to determine if we like the chart to be plotted according to the open price, close price, high price or low price. Close price is more reliable and popular because most traders donít care about the price fluctuation during a time time frame and only the close price is important for them.
Itís the oldest types of charts developed in
the 18th century by legendary Japanese rice trader Homma Munehisa, this
style of charting is very popular due to the level of ease in reading and
understanding the graphs.
The candlestick provides a visual details more than any other chart.
Is a chart with rectangular bars of lengths
usually proportional to the magnitudes or frequencies of what they
Bar charts are used for comparing two or
more values. The bars can be horizontally or vertically oriented.
Each bar contains 4 'hooks' (the opening, closing, high and low (OCHL) rates of transactions at a certain time interval).
MT4 Indicators |
Learn Forex Trading |
Forex Articles |
List of Brokers | Forex
Friends | Feedback |
Advertise | Contact|
Hosted by Suninside.com | Disclaimer
|Click here to Learn Forex Trading in Chennai, Madurai, Trichy, Tirupur, Salem, Karur, Erode, Coimbatore|