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How to get the buy and sell price display on forex chart?

Forex trading is all about buying and selling currencies. To make informed trading decisions, traders need to have access to accurate and up-to-date information regarding the currency pairs they wish to trade. One important information that traders need to have on their forex chart is the buy and sell price display. In this article, we will explain how to get the buy and sell price display on forex chart.

What is a Forex Chart?

A forex chart is a graphical representation of the movement of a currency pair over time. It displays the exchange rate of one currency against another in the form of a line or a bar chart. Forex charts are used by traders to analyze the market, identify trends, and make trading decisions.

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Types of Forex Charts

There are three main types of forex charts, namely:

1. Line Chart: A line chart is the simplest type of forex chart. It is a basic graph that displays the closing price of a currency pair over a specified period.

2. Bar Chart: A bar chart is a more detailed type of forex chart. It displays the opening and closing prices of a currency pair, as well as the high and low prices over a specified period.

3. Candlestick Chart: A candlestick chart is the most popular type of forex chart. It displays the opening, closing, high, and low prices of a currency pair over a specified period in the form of candlesticks.

How to Get the Buy and Sell Price Display on Forex Chart

To get the buy and sell price display on forex chart, you need to follow the steps below:

Step 1: Choose a Forex Trading Platform

The first step in getting the buy and sell price display on forex chart is to choose a forex trading platform that offers this feature. Some popular trading platforms that offer this feature include MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Step 2: Open a Forex Trading Account

Once you have chosen a trading platform, the next step is to open a forex trading account with a reputable broker. The broker will provide you with login details that you will use to access the trading platform.

Step 3: Download and Install the Trading Platform

After opening a forex trading account, you need to download and install the trading platform on your computer or mobile device. Most trading platforms are available for download on the broker’s website.

Step 4: Open a Forex Chart

Once you have downloaded and installed the trading platform, the next step is to open a forex chart. To do this, click on the “New Chart” button on the trading platform.

Step 5: Select a Currency Pair

After opening a forex chart, the next step is to select a currency pair to display on the chart. To do this, click on the “Symbol” button on the trading platform and select the currency pair you want to trade.

Step 6: Add Indicators

To get the buy and sell price display on forex chart, you need to add indicators to the chart. The most commonly used indicators for this purpose are the “Bid” and “Ask” lines.

The “Bid” line represents the price at which you can sell the currency pair, while the “Ask” line represents the price at which you can buy the currency pair. To add these lines to the chart, click on the “Indicators” button on the trading platform and select “Bid” and “Ask” lines.

Step 7: Customize the Chart

To make the chart more user-friendly, you can customize it by changing the color of the lines, adding gridlines, and adjusting the time frame.

Conclusion

Getting the buy and sell price display on forex chart is essential for traders who want to make informed trading decisions. By following the steps outlined in this article, you can easily get the buy and sell price display on your forex chart. Remember to choose a reputable broker and trading platform to ensure that you have access to accurate and up-to-date information. Happy trading!

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