Trading tools

The trading charts

The NanoTrader platform offers nearly all chart types. New chart types are added on a regular basis.

Charts based on ticks (e.g. range bars, renko...) are correct because we provide futures tick-by-tick quotes.

CFD-Forex charts show prices on which you can really trade, not the mid-price.

On this page...
Traditional charts
Price-only charts
Special charts

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Bar charts

Each bar represents an identical time period. The trader sees the open price, the close price, the high and the low of the period. Green indicates a close price above the open price. Red indicates a close price below the open price.

This example shows a bar chart in combination with a simple moving average.

A bar chart for traders.

Line charts

The line chart represents the market price as a line. Simple, yet still useful in different types of trading.

This example shows the line chart in combination with the SuperTrend indicator. The chart background is green if the indicator is bullish and red if the indicator is bearish.

Line charts in trading.

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Range bars

Range bars only reflect price changes. Range bars do not reflect the element of time. This results in a chart, which only draws a candle when a specified price movement occurs.

This example shows 30-point range bars. The inset is a classic candlestick chart showing  a period from 10h00 to 12h00. Compare this chart to the range bars, which cover the same time period.

What are Range Bars.

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Tick charts

Tick charts are popular with scalpers. They represent the executed orders as a live chart. Each bar represents a fixed number of executed orders. So the more trades, the more bars. This allows traders to see accelerations and slow-downs in the market.

This example shows a 10 ticks chart. Each candle consists of the prices of 10 executed orders. Notice the variable time axis which reflects the fact that there are moments with a lot of orders and moments with a limited number of orders.

Tick charts explained.

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Twin charts

Twin charts are charts in different time frames, which are linked to each other. Traders use charts in higher time frames to identify the market trend or to place orders on important support or resistance levels. With twin charts you can, for example, draw a trend channel in a day chart and the channel will also appear automatically in the daytrading chart.

This example shows a daytrading chart accompanied by a 60-minute and a 1-day twin chart. The relationships are clearly visible.

Charts in different time frames in the same chart.

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Candlestick charts

Each candle represents an identical time period (e.g. 5-minute or 10-minute candles). Traders see the open price, the close price, the high, and the low of the period. Green means the close price is above the open price. Red means the close price is below the open price.

Specific candlestick combinations are particularly interesting.

In this example the highlighted combination of four candles is called a 'hammer pattern'. It is a popular buy signal. The platform can indicate these signals.

What are candlestick charts?

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Heikin Ashi charts

Technically speaking, Heikin Ashi is a trend indicator. As it looks like a chart it can often be found in chart types. Combinations of Heikin Ashi candles in higher time frames can supply interesting trading signals.

This example compare the standard candlestick chart (above) and the Heikin Ashi chart. The Heikin Ashi chart is clearer.

Heikin Ashi charts in the trading platform.

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Renko charts

Like the range bars the renko chart only reflects price movements. A renko chart is constructed by placing the next brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount.

This example shows a 10-point renko chart. The current market price is 10787,0. The next red renko block will only be drawn if the market goes below 10780,0 (= 10790,0 - 10 points).

The Renko charts in the trading plaform.

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Three line break charts

Three line break charts ignore time. They only evolve when the market price moves by a certain amount. The chart is drawn in the same direction until a reversal occurs. A reversal occurs when the closing price exceeds the high or low of the prior two lines.

This example shows NanoTrader's unique capability of drawing the classic candlesticks chart combined with three line break channels and their reversal signals. In other words, the three line break chart is not visible. Its important turning break points are indicated by the colours in a regular chart. Read more about this interesting topic.

Three line breaks charts an example in the trading platform.

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Logarithmic charts

Imagine an extreme case in which a chart moves from 100 to 1100 in the zoomed period. If the chart is shown linear fashion it does not unveil its relative movement, i.e., although the move from 100 to 200 is an increase of 100% it gets the same vertical space as a move from 1000 to 1100, which is just a 10% increase. So displaying it with a logarithmic scale better reflects the relative size of the price movements.

This example shows a long chart for the German market DAX index. Notice the logarithmic price scale.

A logarithmic chart used by traders.

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