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.
To open a new Forex chart:
• Through the menu options File > New Chart.
• Right-click the Market Watch window, then select the Chart Window options
• Clicking on "New Chart button" on the toolbar
• Or press the Ctrl + W key combination
Charts have the ability to be customized. Charting Forex package can be utilized to appear in many different ways. Here are some types of charts:
Candlestick Chart:
It’s 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.
Each candlestick includes the open, high, low, and close, of the timeframe, and also shows the direction (upward or downward), and the range of the timeframe.
The candlestick provides a visual details more than any other chart.
Line Chart:
Is a two-dimensional scatter plot of ordered observations where the observations are connected following their order.
The line chart is a graphical representation of the historical exchange rate of a specific currency pair in a certain period of time. The line is brought into existence and drew according to the closing prices connection of the day.
Bar Chart:
Is a chart with rectangular bars of lengths usually proportional to the magnitudes or frequencies of what they represent.
Uses bars to show frequencies or values for different categories, also known as a bar graph.
Bar charts are used for comparing two or more values. The bars can be horizontally or vertically oriented.
Sometimes a stretched graphic is used instead of a solid bar.
Each bar contains 4 'hooks' (the opening, closing, high and low (OCHL) rates of transactions at a certain time interval).
Gator Oscillator
It is based on the Alligator and shows the degree of convergence/divergence of the Balance Lines (Smoothed Moving Averages).
The Gator Oscillator is displayed as two histograms:
- The histogram above zero shows the distance between the blue and the red lines (between the Alligator's jaw and teeth);
- The histogram below zero shows the distance between the red and the green lines (between the Alligator's teeth and lips).
The Gator Oscillator clearly shows convergence and intertwining of the Balance Lines when the Alligator is asleep or awake thus helps identify a trend.
No comments:
Post a Comment