Forex charts are mainly composed of two coordinates. On the vertical axis are prices, and on the horizontal time. Sometimes on the vertical axis there is a graph of tick volume. The horizontal axis of time, has a different scale and is called an interval. Some call the time axis the trading period, and others the timeframe. Intervals of the trading period: from year, month, week and day, up to 4 hours, hours, 30 minutes, 15 minutes, five minutes. There is also a single quote, which is called a tick. The definition of a single quote: changed by the market maker of the market, transmitted through the information channel, at the same time two prices, Ask and Bid (buying and selling) are called ticks. The schedule on the Forex market is formed in a certain period, at a given price. For example, a period of 4 hours has four meanings (as well as any other period). Period value: 1. Open (price established at the opening of the trading period): calculated using the Ask Bid / 2 formula. The average value of the purchase price, and sales. If we speak in fact, then Open = first quotes of this period. 2. Close (closing price of the current period): everything is identical with the first value of the trading period. The price set at the end of the current period is called Close. Calculated by the same formula as Open (Ask Bid / 2). The last quote of this period is actually equal to the value of Close. 3. High (maximum price): the highest price in the selected trading period. And since Ask is greater than Bid, the highest Ask will be the highest price. In other words, the highest purchase price will be the value of the trading period -High. 4. Low (minimum price): the lowest price in the selected trading period. Here is the opposite. The lowest Bid will be the Low value. Or the lowest selling price will be the lowest price for the entire period. Sometimes as a separate indicator, a tick volume is added to the chart. The number of ticks for a given period, transferred by market makers, is called tick volume. Types of displaying charts: 1. Tick Chart, or tick chart, the smallest-scale of all. In the price chart, Ask and Bid look like columns. The maximum of each column is the Ask quotation, the minimum is the Bid. As a technical analysis, the tick chart is not used because of its smallness. But the tick chart is indispensable for determining the exact levels of support / resistance. Another advantage is an increase in the efficiency of sales and purchases. 2. Line Chart or Line Chart. Helps to find shapes for technical analysis. One of the advantages is the absence of redundant information. But there are a number of drawbacks. The main ones are: the impossibility of assessing what is happening in the trading period (significant rises, falls), it is also impossible to see if there were gaps (gaps are price gaps arising between the opening of the next and closing of the previous period). 3. Bar chart. Sometimes the bar chart is called the interval histogram chart. When building this chart, 4 values of the trading period are used (Open, Close, High, Low). The vertical line indicates the period. To the left and right of each of them is a line. The maximum price level reached in this period shows the upper end of the vertical line. A minimal, lower end of the vertical bar. The bar on the left represents the value (Open), and the right value (Close). If the left line is higher than the right, then the price for the period has fallen, and if the right is higher than the left, then the opposite has increased. The chart of bars can be said, shows with its vertical line the trading range of the period. The advantage of the chart bars: You can determine what happened inside the period, and the presence of gaps. Disadvantages: It is impossible to determine the nature of the movement. It is not always possible to assess whether the market has grown over the period or not. 4. Japanese Candlesticks Japanese Candlestick Chart. Almost the same as the bar chart is also constructed due to 4 values of the trading period, but visually it looks better (as perception). The rectangle, or the widest part of the candle, is called the real body jittai. Here the body is called the price range between the opening and closing prices. When the closing price is less than the opening, means a black candle “in-sen” or the filled body of the candle (the price has fallen). And when, on the contrary, the closing price is more than the opening, it means an empty body or a white candlestick “yo-sen” (the price has gone up). The upper shadow is a line above the body of the candle (the maximum price is within the period). The lower shadow is the line under the body of the candle (the minimum price within the period). There are other graphics, but the most popular ones are those I have already written about.