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229 - Introduction to the Chart

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In this tutorial, I'm going to show you how to get started using the chart in the SaxoTrader Go platform. Charts are an essential tool for any trader or investor, allowing you to analyze how the past price movements of an instrument help you predict how the price might move in the future. This tutorial will show you the basics of the chart package, in another, we will take a more in-depth look at using studies and annotations to analyze price movements. The Overview panel shows a simple chart of the price of the selected instrument over a fixed time period. The Chart Tab gives access to the full chart, allowing you to analyze price movements, add annotations and studies and to trade from the chart. Usually, the chart will be linked to your Watchlist and Positions and Orders Lists. If this link icon is selected, the chart will change to show the instrument selected in the following ways: The Watchlist, for easy access to the instruments you monitor. The Positions List, for easy access to charts for trade positions you are holding. The Orders List, for easy access to charts for open trade orders. I can select an instrument not in my Watchlist using the Instrument selector here. By just entering a few letters of the instrument’s name or symbol. Now I will be looking at the FTSE100 index, a CFD so if I just enter ‘FTS’ you already can see it and select it from the list. Note that unless I have deselected the Link icon, the chart will switch instrument if I select an instrument in the Watchlist, Positions List or the Orders List. The chart header allows to temporarily expand the chart to the full size of your browser, allowing you to better work with the chart when analyzing price movements. And I can restore the chart to normal size by clicking the ‘Restore’ button here. I can have up to 4 charts. To add a chart, click the Add/Remove Chart button. Then the New Chart button to add a blank chart or the Copy button to copy the existing chart, including studies and annotations. I can then add another chart beside either of the charts if I want to. Click the Done button when you are finished adding charts. Any of the charts can be linked to the Watchlist, Positions List and Orders List, for example, to see the selected instrument in different time-periods or with specific chart studies. Or a chart can be unlinked and dedicated to an important instrument of interest or a Stock Index for example. The chart type uses candlesticks by default, a favorite for traders, showing at a glance, the Open, the Close and the Highest and Lowest prices for the chart period. Stock investors might be more familiar with a line chart. OHLC chart types are also available. The period selector selects the time period for each point of the chart, so selecting 1 date means each chart point represents a single trading day’s price. For a Candlestick, this will show the day’s open, close and the highest and lowest prices in the day. For a line chart, this will be the close price of the day’s trading. Time periods down to 1 minute are available when analyzing very short time period price movements. Monthly charts showing a macro view of the historic price over a number of years. The latest price is shown highlighted in the price axis. Within a time period, you can move back in time by dragging the chart backwards with your mouse. The chart automatically scales to fit the price range shown. You can also resize the chart vertically by dragging in the price axis. Zoom into and out of points on the chart using the scroll wheel of your mouse. Or you can zoom in using the zoom icon by dragging and selecting an area of interest. To reset the zoom and scrolling, click the reset icon. Zoom will be reset, the chart will be scaled and the latest price point will be shown. Chart Studies can be added from the Chart Studies menu. Line and annotations can be added from the Annotations menu, including Fibonacci extensions and retracements and Andrews Pitchforks.

Video Details

Duration: 4 minutes and 57 seconds
Language: English
License: Dotsub - Standard License
Genre: None
Views: 8
Posted by: hve_textminded on Nov 4, 2015

229 - Introduction to the Chart

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