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I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Table of Contents Expand. What Is a Forex Chart? Understanding Forex Charts. Technical Indicators. Forex Charting and the Dow Theory. Forex Chart FAQs. Key Takeaways A forex chart is the graphical representation of the relative price performance of a currency pair or pairs. Technical analysts and day traders look to such charts for signals and patterns to inform their trading decisions. The most common types of forex charts are line, bar, and candlestick charts; and the normal time frames that most platform's charting software provides range from tick data to yearly data.
Forex charting software comprises a powerful set of digital tools to make technical trading and analysis more streamlined and efficient. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Terms Forex Charting Software Forex charting software helps traders analyze foreign currency pairs price trends, enabling them to make informed trading decisions. Understanding Technical Analysis Technical analysis is a trading discipline that seeks to identify trading opportunities by analyzing statistical data gathered from trading activity.
Currency Trading Platform A currency or forex trading platform is a type of trading platform used to help currency traders with forex trading analysis and trade execution.
Forex Forecasting Software Definition Forex forecasting software provides technical indicators and trading tools to FX traders. Compare features. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.
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Learn to trade Strategy and planning How to read forex charts. How to read forex charts. Will Hall-Smith Senior financial writer , London.
What is a forex chart? How to read different types of forex charts Forex traders tend to choose between four main types of chart — candlestick, HLOC, line and mountain — each of which is read in a different way. Candlestick chart Candlestick charts display pricing information in long, thin bars that resemble candles. In addition, each candlestick will show four specific prices for the currency pair: Open: the price at the start of the period Close: the price at the end of the period High: the highest price traded during the period Low: the lowest price traded during the period.
Line chart Unlike a candlestick or HLOC chart, a line chart only shows the close price for the time period you have selected eg one hour. Mountain chart The final type of chart is a mountain chart.
Using technical analysis to forecast FX prices While this guide has introduced the basic concepts you need to know to read forex charts, many experienced traders use more advanced technical analysis to forecast price movements. Explore the markets with our free course Discover the range of markets you can spread bet on - and learn how they work - with IG Academy's online course.
Try IG Academy. Turn knowledge into success Practice makes perfect. Try it out. Ready to trade forex? Learning to read advanced forex live charts and real-time trading charts will help you spot trends and seize opportunities to make money. Forex charts come in different forms, but the three most popular types of chart are line charts, bar charts and candlestick charts. The simplest of them all, line charts draw a line from one closing price to the next. When strung together with a line, they show you the rise and fall of a currency pair over time.
Bar charts are a bit more complicated but perfect for when you need more information. They show the opening and closing prices of a currency pair, as well as the highs and lows.
The bottom of a vertical bar displays the lowest traded price for that period, while the top shows the highest. On the left side of a bar chart is the horizontal hash, which shows the opening price. On the right is a horizontal hash showing the closing price.
Like other forex charts, candlestick charts indicate the high-to-low trading ranges with a vertical line. For the data-hungry among us, they also use blocks in the middle to indicate the range between the opening and closing prices. If the middle block is filled or coloured, the currency pair closed at a lower price than it opened.
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