Being a newbie in the Forex trading you already notice the charts they always show and wondering how does it work, right? The currency pair chart in the Forex trade is extremely important. Those charts will show you the movement of every currencies in the graphical way, all traders will use these charts for them to apply several tools technically in order to get ahead the price movements in the future.
In this article, we will be compiled list of charting software or apps used in Forex trades. Being familiar in the Forex charting platform is very essential. This can be used for the prize charts to be analyze. Do you know that in reality, most broker offer you a trading platform but it is very limited and it doesn’t have the complete tools you will need in the trading market? So here is the tip, before you decide to open an account to a broker, always make sure that they offer you a complete tool in the charting platforms.
For the technical traders, the charting software plays an important role for them. The technical analysis always relies on the technical indicator, price chart analysis, action trading and the chart patterns. By identifying the entry and the exit point of your trades even if you are in the fundamental analysis you will still need and use charts. Day traders, Scalpers, Position traders and Swing traders will all benefit by using the Forex charting software.
Let me give you some list of the software used in Forex that have tons of features. But, please keep in mind that this will always depend on your own preferences and how you need it.
The software offers an advance charting tools, it is a user friendly and interface but the available plugins are limited and not that not many brokers offer this software.
This is known for the traders as the king of the retail traders. This platform offers an advanced charting features, built-in of dozen technical indicator, types of the price charts and the range of TF time frames. You will notice in the above image that it has the complete features that you can use. This platform has been around in the market for quite some time now, so searching for an online community about this software is that easy.
This software is known as the successor of the MetaTrader version 4. This is a new version that upgrade in may features. Take note that there is a mobile application for both MetaTrader 4 and MetaTader5.
An extremely powerful software that offers tremendous functionality such as the price alert, charting tools, technical indicators and the graphical tools. This tool is 100% free.
In general, they are not all same in features but getting familiar with that software’s can be essential for you. Try to research and learn more about those software’s and compare what will suit your preferences.