With graphics, you determine trends, identify resistance and support, discover formations, use a variety of analysis tools, and finally decide to enter the position. That is why the charts are the ultimate starting point for decision makers for every investor.
The graphs can show the time zone you want. As you can get a graph that flows continuously from incoming tick information, it is also possible to get graphs that represent long periods of time, each point representing a full month. It is quite easy to fit your graph to time according to the analysis method you want to use and the time frame you want to examine. Successful investors may prefer to look at the development of the charts over the years from the smallest timeframe while deciding on positions. Because of this, graphic charts can be easily resized and examined at time scale.
In our trading platforms, it is possible to see basically three types of graphics. These:
• Candlestick charts
• Bar Graphs
• Line Charts.
In terms of being able to give most of the information used in forex charts and visuals in the same way, the candle bars have found a very wide use area. Each of the candlestick bars provides five information, including the direction of the analyst parity, the opening price, the closing price, the highest price and the lowest price. The time slice represented by each candlestick is equal to the time selection in the time table of the graph. For example, if H1 time display is selected, the width of a candlestick in the graphic equals 1 hour in the horizontal time plane.
Bar graphics are simpler versions of candle bars. Visually it is not as easy to read as candlestick bars, but some traders use these graphics. As in candlestick bars, it provides five pieces of information at the same time, including the direction of the parity, the opening price, the closing price, the highest price and the lowest price. The line to the left of each bar shows the opening price of the parity, the closing price of the line to the right, the highest value of the upper point, and the lowest value of the lower point.
At a glance, it is the simplest graphical form used to observe price development information. It visually shows a single price information. This chart, usually plotted at closing prices, can be drawn over the opening, the lowest or the highest price, according to the ability of the platform you are using. In any case, however, it refers to only one verse. It has limited use in technical analysis applications, except where you want to look at it in general.