Charting FAQs
Q: How do I read a candle?
A: A candle is a way of representing price on a chart that displays the high, low, open, and close over a specified period of time.
A: A candle is a way of representing price on a chart that displays the high, low, open, and close over a specified period of time.
Q: How do I read a bar chart?
A: A bar chart is also a style of charting that displays the high, low, open, and close over a specified period of time, but in a different visual manner than candles.
A: A bar chart is also a style of charting that displays the high, low, open, and close over a specified period of time, but in a different visual manner than candles.
Q: How can I manually make bars or candles thicker or thinner, taller or shorter?
A: To make bars or candles thicker or thinner, use the two buttons on the FX AccuCharts toolbar that correspond to Compress and Expand. Alternatively, you can use the scroll wheel on your mouse to scroll up for thinner and down for thicker. To make the chart taller or shorter, place your mouse pointer on the y-axis price scale, then click to drag drag up or down.
A: To make bars or candles thicker or thinner, use the two buttons on the FX AccuCharts toolbar that correspond to Compress and Expand. Alternatively, you can use the scroll wheel on your mouse to scroll up for thinner and down for thicker. To make the chart taller or shorter, place your mouse pointer on the y-axis price scale, then click to drag drag up or down.
Q: How can I change colors on the price candles/bars?
A: To change the candle or bar colors, right-click on the chart and go to Properties. On the Properties window under the currency pair name, click on Line Style. You can change the colors under the Use Price Relation option.
A: To change the candle or bar colors, right-click on the chart and go to Properties. On the Properties window under the currency pair name, click on Line Style. You can change the colors under the Use Price Relation option.
Q: What does it mean when a candle is light blue (as opposed to red or green)?
A: A light blue candle means that the particular candle opened and closed at the same price.
A: A light blue candle means that the particular candle opened and closed at the same price.
Q: What is a moving average and what does it do?
A: A moving average is a dynamic average of price over a defined period of time. Moving averages are used as trend indicators and are sometimes used to provide buying and selling signals. Moving averages are known as lagging indicators because they always follow price instead of being predictive of price. There are many different types of moving averages, the most popular of which are the Simple Moving Average (SMA), Exponential Moving Average (EMA), and Weighted Moving Average (WMA).
A: A moving average is a dynamic average of price over a defined period of time. Moving averages are used as trend indicators and are sometimes used to provide buying and selling signals. Moving averages are known as lagging indicators because they always follow price instead of being predictive of price. There are many different types of moving averages, the most popular of which are the Simple Moving Average (SMA), Exponential Moving Average (EMA), and Weighted Moving Average (WMA).
Q: How can I plot a moving average based on the high or low, instead of the close?
A: Under Analysis Tools, instead of using the standard indicator like "Moving Average, Simple," which is an average on the Close price only, use the "Moving Average, Simple OHLC." When using this indicator, change the FidType under the Period setting. FidType 1 corresponds to an average of the Open prices. FidType 2 corresponds to an average of the High prices. FidType 3 corresponds to an average of the Low prices. FidType 4 corresponds to an average of the Close prices.
A: Under Analysis Tools, instead of using the standard indicator like "Moving Average, Simple," which is an average on the Close price only, use the "Moving Average, Simple OHLC." When using this indicator, change the FidType under the Period setting. FidType 1 corresponds to an average of the Open prices. FidType 2 corresponds to an average of the High prices. FidType 3 corresponds to an average of the Low prices. FidType 4 corresponds to an average of the Close prices.
Q: Can a moving average be based on an AVERAGE of the high and low?
A: No, at this time, a moving average can only be based on either the Open, High, Low, or Close price. It cannot be based on an average of any of these.
A: No, at this time, a moving average can only be based on either the Open, High, Low, or Close price. It cannot be based on an average of any of these.
Q: What's the difference between a simple and an exponential moving average?
A: A simple moving average assigns weight equally to all of the price data in the period. An exponential moving average assigns more weight to more recent price data. Exponential moving averages and weighted moving averages tend to combat the lagging effect of moving averages somewhat.
A: A simple moving average assigns weight equally to all of the price data in the period. An exponential moving average assigns more weight to more recent price data. Exponential moving averages and weighted moving averages tend to combat the lagging effect of moving averages somewhat.
Q: How can I draw a Fibonacci Retracement?
A: Fibonacci Retracements are customarily drawn by dragging a line from a high extreme to a low extreme or a low extreme to a high extreme from left to right.
A: Fibonacci Retracements are customarily drawn by dragging a line from a high extreme to a low extreme or a low extreme to a high extreme from left to right.
Q: What do Fibonacci Retracements do?
A: Fibonacci Retracements refer to the likelihood that price will retrace a large portion of an original move and find support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.
A: Fibonacci Retracements refer to the likelihood that price will retrace a large portion of an original move and find support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.
Q: How can I get Fibonacci Projections (some may call them extensions)?
A: Fibonacci Projections are negative retracements (less than 0%) that are used for projection purposes. In order to add these negative retracement levels, draw a standard Fibonacci retracement line on the chart, right-click on it and then left-click on Properties on the menu. On the resulting window's list, under the Fibonacci Retracement tree, click on Levels. Then check all of the levels that are desired, including the negative levels for the projections.
A: Fibonacci Projections are negative retracements (less than 0%) that are used for projection purposes. In order to add these negative retracement levels, draw a standard Fibonacci retracement line on the chart, right-click on it and then left-click on Properties on the menu. On the resulting window's list, under the Fibonacci Retracement tree, click on Levels. Then check all of the levels that are desired, including the negative levels for the projections.
Q: How can I draw a trendline?
A: An upward trendline is usually drawn by connecting at least two successive lows, but preferably more. Each successive point must necessarily be higher then the previous one. Conversely, downward trendlines are usually drawn by connecting two or more successive highs, each lower than the previous one.
A: An upward trendline is usually drawn by connecting at least two successive lows, but preferably more. Each successive point must necessarily be higher then the previous one. Conversely, downward trendlines are usually drawn by connecting two or more successive highs, each lower than the previous one.
Q: How do trendlines work?
A: Trend lines are simple, yet helpful tools in identifying and confirming the direction of market trends. The continuation of the line helps determine the path along which the market is heading. Drawing trendlines is a concrete method to identify support lines and levels. The validity of a trend line is partially related to the number of connection points as well as the length of time that the trendline remains intact.
A: Trend lines are simple, yet helpful tools in identifying and confirming the direction of market trends. The continuation of the line helps determine the path along which the market is heading. Drawing trendlines is a concrete method to identify support lines and levels. The validity of a trend line is partially related to the number of connection points as well as the length of time that the trendline remains intact.
Q: How can I draw a horizontal support/resistance line?
A: To draw a horizontal support/resistance line, click on the down arrow to the right of the diagonal trendline button on the FX AccuCharts toolbar. Then click on the horizontal line button. Then click on the chart to place and move the horizontal line.
A: To draw a horizontal support/resistance line, click on the down arrow to the right of the diagonal trendline button on the FX AccuCharts toolbar. Then click on the horizontal line button. Then click on the chart to place and move the horizontal line.
Q: How can I draw a parallel trend channel?
A: To draw a parallel trend channel, click on the down arrow to the right of the diagonal trendline button on the FX AccuCharts toolbar. Then click on the parallel trend channel button. Then click and drag on the chart to draw the first trend line in the channel. When you release the mouse button after drawing the first trendline, the parallel line will be displayed. Move this parallel line to where you want it, then click on the mouse button to place this second line.
A: To draw a parallel trend channel, click on the down arrow to the right of the diagonal trendline button on the FX AccuCharts toolbar. Then click on the parallel trend channel button. Then click and drag on the chart to draw the first trend line in the channel. When you release the mouse button after drawing the first trendline, the parallel line will be displayed. Move this parallel line to where you want it, then click on the mouse button to place this second line.
Q: How can I calculate Pivot Points?
A: Click on the Pivot Point button on the toolbar. This button is multi-colored, and should be to the left of the ABC button. Clicking on the Pivot Point button automatically places the pivot points on the chart. To customize the time parameters, colors, fonts, and levels, right click on any of the pivot points and then left-click on Properties on the menu. All parameters can be customized under the Pivot Points tree.
A: Click on the Pivot Point button on the toolbar. This button is multi-colored, and should be to the left of the ABC button. Clicking on the Pivot Point button automatically places the pivot points on the chart. To customize the time parameters, colors, fonts, and levels, right click on any of the pivot points and then left-click on Properties on the menu. All parameters can be customized under the Pivot Points tree.
Q: What is the Gann Fan?
A: Created by W.D. Gann, the Gann Fan is a method of predicting price movements through the relation of geometric angles in charts depicting time and price. The Gann Fan is drawn much like Fibonacci Retracements - by dragging a line from a high extreme to a low extreme or a low extreme to a high extreme from left to right.
A: Created by W.D. Gann, the Gann Fan is a method of predicting price movements through the relation of geometric angles in charts depicting time and price. The Gann Fan is drawn much like Fibonacci Retracements - by dragging a line from a high extreme to a low extreme or a low extreme to a high extreme from left to right.
Q: What is Andrew's Pitchfork?
A: Andrew’s Pitchfork is a technical indicator that uses three parallel trendlines to identify possible levels of support and resistance. The trendlines are created by placing three points at the end of identified trends. This is usually achieved by placing the points in three consecutive peaks or troughs. Once the points have been placed, a straight line is drawn from the first point that intersects the midpoint of the other two. Andrew’s Pitchfork is also known as "median line studies".
A: Andrew’s Pitchfork is a technical indicator that uses three parallel trendlines to identify possible levels of support and resistance. The trendlines are created by placing three points at the end of identified trends. This is usually achieved by placing the points in three consecutive peaks or troughs. Once the points have been placed, a straight line is drawn from the first point that intersects the midpoint of the other two. Andrew’s Pitchfork is also known as "median line studies".
Q: What are Speed Resistance Lines?
A: Speed Resistance Lines are a tool in technical analysis that is used for determining potential areas of support and resistance. This tool, consisting of three trendlines, is created by drawing the first trendline from the most recent low to the most recent high when the asset is in an uptrend, and from the most recent high to the most recent low when the asset is in a downtrend. The other two trendlines are drawn with smaller angles in an attempt to predict areas that will act as possible barriers in the event of a retracement.
A: Speed Resistance Lines are a tool in technical analysis that is used for determining potential areas of support and resistance. This tool, consisting of three trendlines, is created by drawing the first trendline from the most recent low to the most recent high when the asset is in an uptrend, and from the most recent high to the most recent low when the asset is in a downtrend. The other two trendlines are drawn with smaller angles in an attempt to predict areas that will act as possible barriers in the event of a retracement.
Q: What are the most common indicators?
A: The FX AccuCharts includes over 150 indicators and oscillators. The most common ones include moving averages, MACD, RSI, Stochastics, Bollinger Bands, Momentum, CCI, ADX, Parabolic SAR, ROC, etc.
A: The FX AccuCharts includes over 150 indicators and oscillators. The most common ones include moving averages, MACD, RSI, Stochastics, Bollinger Bands, Momentum, CCI, ADX, Parabolic SAR, ROC, etc.
Q: What is RSI/Stochastics/Momentum/CCI (or any similar oscillator)?
A: An oscillator like RSI/Stochastics/Momentum/CCI/etc. is generally a technical tool that is banded between two extreme values and built with the results from a trend indicator for discovering short-term overbought or oversold conditions. As the value of the oscillator approaches the upper extreme value the asset is deemed to be overbought, and as it approaches the lower extreme it is deemed to be oversold.
A: An oscillator like RSI/Stochastics/Momentum/CCI/etc. is generally a technical tool that is banded between two extreme values and built with the results from a trend indicator for discovering short-term overbought or oversold conditions. As the value of the oscillator approaches the upper extreme value the asset is deemed to be overbought, and as it approaches the lower extreme it is deemed to be oversold.
Q: What do oversold and overbought mean?
A: Overbought is a term that describes a situation in which price has risen to such a degree that an oscillator has reached its upper bound. This is generally interpreted as a sign that price is becoming overvalued and may possibly experience a downward correction. Oversold is a term that describes a situation in which price has fallen to such a degree that an oscillator has reached its lower bound. This is generally interpreted as a sign that price is becoming undervalued and may possibly experience an upward correction.
A: Overbought is a term that describes a situation in which price has risen to such a degree that an oscillator has reached its upper bound. This is generally interpreted as a sign that price is becoming overvalued and may possibly experience a downward correction. Oversold is a term that describes a situation in which price has fallen to such a degree that an oscillator has reached its lower bound. This is generally interpreted as a sign that price is becoming undervalued and may possibly experience an upward correction.
Q: What is MACD, and how do I find it on AccuCharts (as opposed to MACD Forest)?
A: The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of prices. The MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. A nine-day EMA of the MACD, called the "signal line", is then plotted on top of the MACD, functioning as a trigger for buy and sell signals. On the FX AccuCharts, the MACD can be found on the Analysis Tools under the spelled out name: “Moving Average Convergence Divergence.” This should not be confused with the MACD Forest.
A: The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of prices. The MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. A nine-day EMA of the MACD, called the "signal line", is then plotted on top of the MACD, functioning as a trigger for buy and sell signals. On the FX AccuCharts, the MACD can be found on the Analysis Tools under the spelled out name: “Moving Average Convergence Divergence.” This should not be confused with the MACD Forest.
Q: What are Bollinger Bands?
A: Bollinger Bands are bands plotted two standard deviations away from a simple moving average (usually 20 periods). Bollinger Bands are generally used to measure volatility, and can be used by technical traders to generate trading signals.
A: Bollinger Bands are bands plotted two standard deviations away from a simple moving average (usually 20 periods). Bollinger Bands are generally used to measure volatility, and can be used by technical traders to generate trading signals.
Q: What is the Parabolic SAR?
A: A technical analysis strategy that uses a trailing stop and reverse method called "SAR," or stop-and-reversal dots, to determine exit and entry points.
A: A technical analysis strategy that uses a trailing stop and reverse method called "SAR," or stop-and-reversal dots, to determine exit and entry points.
Q: How can I customize indicators?
A: All indicators and oscillators can be customized by changing the periods and other values on the Insert Analysis Tools window. You can also further customize any indicator or oscillator on the FX AccuCharts by clicking on the Tools menu at the top of the FX AccuCharts platform, then clicking on Analysis Tools Editor. To edit the source code for any indicator, simply click on the indicator on the list, and then click edit. To create a new indicator, click on the New button. In order to edit or create source code, you will need to be knowledgeable of the source code language.
A: All indicators and oscillators can be customized by changing the periods and other values on the Insert Analysis Tools window. You can also further customize any indicator or oscillator on the FX AccuCharts by clicking on the Tools menu at the top of the FX AccuCharts platform, then clicking on Analysis Tools Editor. To edit the source code for any indicator, simply click on the indicator on the list, and then click edit. To create a new indicator, click on the New button. In order to edit or create source code, you will need to be knowledgeable of the source code language.
Q: I'm looking for the XYZ indicator - do you have it?
A: All FX AccuCharts indicators and oscillators can be found on the Analysis Tools list. There are over 150 studies listed there. We add new studies periodically based upon customer requests. If there is a study that you would like to use and cannot find on the FX AccuCharts, please contact us to request it.
A: All FX AccuCharts indicators and oscillators can be found on the Analysis Tools list. There are over 150 studies listed there. We add new studies periodically based upon customer requests. If there is a study that you would like to use and cannot find on the FX AccuCharts, please contact us to request it.
Q: How do I open a chart?
A: To open a chart on the FX AccuCharts, click on the Quick Bar on the Navigation Pane column. There should be a list of currencies with corresponding national flags. Click on the flag of your choice, or choose the All button on the top. This opens a price page. Once a price page is open, double-click on the currency pair of your choice. This opens the chart, which defaults to a daily timeframe.
A: To open a chart on the FX AccuCharts, click on the Quick Bar on the Navigation Pane column. There should be a list of currencies with corresponding national flags. Click on the flag of your choice, or choose the All button on the top. This opens a price page. Once a price page is open, double-click on the currency pair of your choice. This opens the chart, which defaults to a daily timeframe.
Q: How can I change the currency pair on a chart while keeping all of the indicator settings?
A: The quickest way to change the currency pair on a chart, while preserving all indicator settings, is to right-click on the chart and click on Change Symbol. In the “To:” field, type in the base currency (e.g., EUR) of the currency pair you would like to change to. Then click on Find. On the resulting list, double-click on the currency pair of choice. Then click on OK. Your chart will be changed to the currency pair you chose.
A: The quickest way to change the currency pair on a chart, while preserving all indicator settings, is to right-click on the chart and click on Change Symbol. In the “To:” field, type in the base currency (e.g., EUR) of the currency pair you would like to change to. Then click on Find. On the resulting list, double-click on the currency pair of choice. Then click on OK. Your chart will be changed to the currency pair you chose.
Q: How can I change chart timeframes?
A: To change the timeframe on the chart, there are six buttons on the toolbar. These six buttons correspond to Tick by Tick, Multiple Ticks, Intraday, Daily, Weekly, and Monthly. Among these six buttons, there are a total of 30 different timeframes to choose from.
A: To change the timeframe on the chart, there are six buttons on the toolbar. These six buttons correspond to Tick by Tick, Multiple Ticks, Intraday, Daily, Weekly, and Monthly. Among these six buttons, there are a total of 30 different timeframes to choose from.
Q: How can I make a space between the last price bar and the vertical price axis?
A: To create this space, the timeline needs to be extended. To do this, right-click on the chart and go to Extend Time Line, then Set Extend Time. On the field next to Number of Bars, change the value according to how many bars of space you would like.
A: To create this space, the timeline needs to be extended. To do this, right-click on the chart and go to Extend Time Line, then Set Extend Time. On the field next to Number of Bars, change the value according to how many bars of space you would like.
Q: How can I get all of the historical price data available?
A: To display all available price data for a currency pair, right-click on the chart and click on Properties. On the resulting Properties window, click on Time Region under the General tree. Then click to check the radio-button for “All.” Once you click the OK button, all of the available data for the chart will be displayed.
A: To display all available price data for a currency pair, right-click on the chart and click on Properties. On the resulting Properties window, click on Time Region under the General tree. Then click to check the radio-button for “All.” Once you click the OK button, all of the available data for the chart will be displayed.
Q: Can I export price charts into raw data form that I can input into a spreadsheet?
A: At this time, chart data cannot be exported in raw data form.
A: At this time, chart data cannot be exported in raw data form.
Q: How can I set-up multiple charts on multiple monitors?
A: To set-up charts on multiple monitors, open a chart and click on the window menu at the top of the FX AccuCharts platform. On this menu, click on Detach Window. The chart will detach as a separate entity. You can then drag this separated chart onto another monitor. Keep doing this for as many charts that you need on separate monitors.
A: To set-up charts on multiple monitors, open a chart and click on the window menu at the top of the FX AccuCharts platform. On this menu, click on Detach Window. The chart will detach as a separate entity. You can then drag this separated chart onto another monitor. Keep doing this for as many charts that you need on separate monitors.
Q: What is a Workspace/Virtual Page/Window/Sheet, and how do I set them up?
A: A workspace is the entire file that you can save on your computer or email to other people. Within a workspace, you can have 20 different virtual pages, which are essentially blank spaces where you can place your charts. These virtual pages can be scrolled through using the Virtual Page button on the FX AccuCharts toolbar. On each different virtual page, you can open multiple windows. These windows are usually charts, but they can also be price pages. Within each window, you can create different sheets, which work much like the tabbed sheets on Excel. So for example, on a chart window that has a daily EUR/USD chart, you can create another tabbed sheet that has the EUR/USD Hourly chart. And then you can create another sheet on the same window with a EUR/USD 1-Minute chart, etc.
A: A workspace is the entire file that you can save on your computer or email to other people. Within a workspace, you can have 20 different virtual pages, which are essentially blank spaces where you can place your charts. These virtual pages can be scrolled through using the Virtual Page button on the FX AccuCharts toolbar. On each different virtual page, you can open multiple windows. These windows are usually charts, but they can also be price pages. Within each window, you can create different sheets, which work much like the tabbed sheets on Excel. So for example, on a chart window that has a daily EUR/USD chart, you can create another tabbed sheet that has the EUR/USD Hourly chart. And then you can create another sheet on the same window with a EUR/USD 1-Minute chart, etc.
Q: How can I change the colors on my lines/moving averages/indicators?
A: To change colors on these chart elements, the quickest way is to select the element by clicking on it, then choosing its color by clicking on the color picker button on the toolbar. A more comprehensive way to change colors is to select the element that you want to change, and then right-clicking and going to Properties. Colors can be changed under Style or Line Style.
A: To change colors on these chart elements, the quickest way is to select the element by clicking on it, then choosing its color by clicking on the color picker button on the toolbar. A more comprehensive way to change colors is to select the element that you want to change, and then right-clicking and going to Properties. Colors can be changed under Style or Line Style.
Q: How can I make notations on my charts?
A: You can type on any chart simply by clicking on the ABC button on the FX AccuCharts toolbar. Once you click on this button and then click on where you want to place the notation on your chart, a cursor will show. Type your notation and remember to hit the “Enter” button on your keyboard. Your notation will then appear on the chart, and you can click on it to drag it wherever you wish. To change the font or size of the notation, simply select the notation and right-click on it to go to Properties. You can change the font and size under the Font option.
A: You can type on any chart simply by clicking on the ABC button on the FX AccuCharts toolbar. Once you click on this button and then click on where you want to place the notation on your chart, a cursor will show. Type your notation and remember to hit the “Enter” button on your keyboard. Your notation will then appear on the chart, and you can click on it to drag it wherever you wish. To change the font or size of the notation, simply select the notation and right-click on it to go to Properties. You can change the font and size under the Font option.
Q: What is an intersection alert, and how can I set one?
A: An intersection alert is a convenient feature of the FX AccuCharts that alerts the user if a certain chart intersection occurs. This could be if moving averages cross, or if price crosses a moving average, or if price breaks a trendline, or if an oscillator goes to overbought or oversold, etc. There are many potential uses for the intersection alert. To set an intersection alert, right-click on the chart, place your mouse pointer on Insert, and click on Intersection Alert. On the resulting window, choose the two elements for the intersection you would like to be alerted on. You can also choose the Type and Evaluation of the alert. Once you click on the OK button, you will be taken to another window where you can view and edit your intersection alert. Here, you can choose to be alerted with a sound, computer pop-up, and/or email or text message.
A: An intersection alert is a convenient feature of the FX AccuCharts that alerts the user if a certain chart intersection occurs. This could be if moving averages cross, or if price crosses a moving average, or if price breaks a trendline, or if an oscillator goes to overbought or oversold, etc. There are many potential uses for the intersection alert. To set an intersection alert, right-click on the chart, place your mouse pointer on Insert, and click on Intersection Alert. On the resulting window, choose the two elements for the intersection you would like to be alerted on. You can also choose the Type and Evaluation of the alert. Once you click on the OK button, you will be taken to another window where you can view and edit your intersection alert. Here, you can choose to be alerted with a sound, computer pop-up, and/or email or text message.
Q: How can I set a price alert?
A: A price alert is a convenient feature of the FX AccuCharts that alerts the user if a certain price is reached. To set a price alert, right-click on the chart, place your mouse pointer on Insert, and click on Price Alert. A window will open where you can see your price alerts. The price at which the alert is set is the price level at which you right-clicked on the chart. To change this price, simply double-click on the displayed price and type in a new price.
A: A price alert is a convenient feature of the FX AccuCharts that alerts the user if a certain price is reached. To set a price alert, right-click on the chart, place your mouse pointer on Insert, and click on Price Alert. A window will open where you can see your price alerts. The price at which the alert is set is the price level at which you right-clicked on the chart. To change this price, simply double-click on the displayed price and type in a new price.