Forex charts are found for each currency pair. The good news is with these charts you have the ability to customise them. You can select the currency pair you want to look at or even have multiple currency pairs in one chart. Given the different instruments found online, it is best to know some of the customisable options you have. Different websites may provide different tools for these charts. The following is looking at FXstreet.com. Keep in mind that you might assess the different websites to see what is different and what is the same from the tool being analysed here.
Forex Charts: The Customisable Choices
The first thing to do with any website offering charts you can modify is to select the pair you wish to look at. This is not going to change from website to website. There will always be a way to select the currency pair being analysed. The range of pairs you can assess is what will vary. Some websites might offer more pairs including some of the more exotic currencies. Other websites might offer the top traded pairs like the G7 only. Where you get forex charts will matter in respect to the pairs you can analyse.
The website being reviewed for its customisable tool allows you to select the data source the information comes from. In fact this option is new to the customisable choices you have. There are nine choices for the data source. This particular website also offers more than one view for the chart: default or classic. You can detach the chart from the page to look at it in a wider view too.
The next tools for customisation on forex charts are what really matter. You always want to see line choices so that you can draw support and resistance, trend lines like SMAs, and other indicator lines. You have cursor mode to highlight specific areas. There is a zoom mode to look at a particular section of chart in more detail. This particular website also puts Fibonacci retracement lines on the graph for you. Any time you see the N! symbol on the chart it means there is news to go along with the movement seen in the chart. You can also see the last known rate and if there was an increase or decrease, and by what percentage.
Settings on Forex Charts
With a tool like the one being described for forex charts you have settings that you can use to change certain parameters like the five minute intervals being shown on the chart. You can also upload any chart you assess and modify with lines to Facebook or Twitter in case you want to share your interpretation results.
From the assessment of the tool available here and the information you need from forex charts, you can understand why the instrument was mentioned in an article. You know now there is a tool out there that can help you learn to trade. You can also use these same free tools anytime you want to trade after you have learned.
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