Forex trading is a popular financial market where traders buy and sell different currencies to make a profit. One of the most widely used technical analysis tools in Forex trading is the chart, which displays the price movement of a currency pair over a specific period. The chart can be represented in various formats, including candlestick, line, and bar charts. In this article, we will discuss how to change a Forex chart from Si to Bar.
Before we proceed, let’s understand what Si and Bar charts are. Si chart or Standard Indicator Chart is a type of Forex chart that displays the price movement of a currency pair over a specific period in the form of a line. Si charts are simple and easy to read, making them ideal for beginners. On the other hand, bar charts display the price movement of a currency pair over a specific period in the form of bars. Each bar represents a specific time period, and the length of the bar indicates the price range of the currency pair during that period.
Now, let’s talk about how to change a Forex chart from Si to Bar. The process is straightforward and can be done in a few steps. Here’s how:
Step 1: Open your trading platform.
The first step is to open your Forex trading platform. Most trading platforms have Si charts as the default setting, so you need to change the setting to Bar charts.
Step 2: Locate the chart settings.
Once you have opened your trading platform, locate the chart settings. This can be found either at the top or bottom of the chart, depending on your trading platform.
Step 3: Click on the chart settings.
Click on the chart settings, and a drop-down menu will appear. From the drop-down menu, select “Bar chart” or “Candlestick chart.”
Step 4: Adjust the time frame.
Once you have selected the Bar chart or Candlestick chart, you need to adjust the time frame. The time frame determines the length of each bar. For example, if you select a 5-minute time frame, each bar will represent 5 minutes of price movement. You can adjust the time frame according to your trading strategy.
Step 5: Save the settings.
After making the necessary adjustments, save the settings, and your chart will now be displayed in the Bar or Candlestick format.
In conclusion, changing a Forex chart from Si to Bar is a simple process that can be done in a few steps. Bar charts are a popular form of technical analysis in Forex trading, and they provide traders with more detailed information about price movements. Whether you prefer Si charts or Bar charts, it’s essential to understand how to use them to make informed trading decisions. As always, it’s crucial to have a solid trading strategy and risk management plan in place before entering the Forex market.