• Date: 7/23, 2019 17:22 • Tweets with the latest opinions, analyzes, news, rumors and positions of B. Varchev in real time here: https://twitter.com/biservarchev Date: 6/11, 2019 21:13 • Trade over 25 cryptocurrencies with Varchev Absolute Trader 5 Date: 1/31, 2019 18:45
Charts & Technical analysis tools
For technical analysts, the chart is one of the most important tools when making trading decisions. This is why it is crucial you customise your trading platform to suit your style and preferences.
On the right-hand side, you can see the price of the financial instrument, and at the bottom you can see the date and time.
At the top of the platform, you can see the charts you currently have open in your active workspace and an option to add a new chart.
To the right, you can select a different workspace and watch multiple chart screens at the same time if you wish.
If you want to restore your last removed chart or open the chart in a separate window - which is a great option for traders using two or more screens - here are your options.
Below, you’ll find different chart type and interval options:
Visibility of bid and ask price lines, auto updating a chart and shifting can be found here:
Here you can see options such as zoom, move to oldest/newest data, vertical zoom, and vertical auto adjust:
Finally, there’s the option of ‘Add indicator’. This option allows you to use different technical indicators, such as Moving Averages, MACD and RSI.
On the left side of the chart are your technical analysis tools. From the top:
Cross – The cross allows you to watch your chosen chart more precisely, and analyze elements like the open, close, maximum, minimum price at a given time interval.
Lines and channel – These allow you to draw your analysis and what you think may happen next in terms of trend lines and channels. It is one of the most basic technical analysis tools but also one of the most popular.
For more advanced traders, Andrew’s Pitchfork is a popular tool for indicating possible support and resistance levels.
Regression line - this is a simple line that best approximates all the individual data points. Regression is often used to determine how many specific factors influence the price movement of an asset.
Fibonacci retracement - this is a powerful, popular tool that highlights the potential retracement levels of a market’s original price move. Fibonacci retracements use horizontal lines to indicate areas of support or resistance at key levels.
Elliott Waves – A key principle with this indicator is that every action is followed by a reaction. Five waves move in the direction of the main trend followed by three corrective waves (a 5-3 move). A 5-3 move completes a cycle – this helps traders to understand the behaviour of certain markets within specified timeframes.
You can also use other graphics to analyse charts: employ arrows, rectangles, ellipses and triangles.
At the bottom of the toolbar, you have the option to set a text label or set a visible layer to highlight what you want to see on a chart or to compare it with others. You can view divergence between instruments, but remember to keep your charts clean and understandable so that you can interpret opportunities easily.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.