Renko forex tsd elite
However, it still has a big difference in what it indicates and how it could be interpreted. The ATR displays the number of pips that price has moved from the high of the period up to its low. Forex Factory Pip Change on the other hand displays the number of pips price has moved from the open of the preset number of hours up to the current price.
Traders can use this information to identify which direction the pair is moving and whether it is moving with strong momentum or not. Percentage Change takes the information coming from the Pip Change and converts it to percentage.
It displays the percentage of the Pip Change from its base range based on a set number of hours. As such, traders also have the option to change the span of time the tool would base its percentage change from, just as with the Pip Change dropdown option. This also has the same dropdown option as the Pip Change dropdown.
Traders can use this information in order to have an estimate as to whether price is already near the low or high of its range, which in many cases are also support or resistance levels. Pip Spread displays the difference between the bid and ask price, otherwise known as the Spread. This information is a very useful information for scalpers as it is the most basic trading cost that traders should overcome.
This is particularly useful for scalpers because spreads can be one of the main reasons why scalpers loose money more than they should, as scalping entails lower returns on a per pip basis while still maintaining the same spread cost. Traders may also opt to have more than four metrices regarding each major currency pair. In this case, traders may click on the settings button on the upper right-hand corner of the window and select the number of desired metrices. Traders can also select the currency pair which they would prefer to view rather than the major forex pairs.
This is very useful as it allows us to make timely informed decisions based on the Scanner. This option is also found on the upper corner of the window. Clicking on any of these charts would bring us to the chart window of the selected forex pair. Traders can fairly make informed decisions even without the use of a paid charting tool just by using this window.
The forex pair displayed on the chart can quickly be changed. Next to the name of the forex pair are the displayed period intervals which traders may quickly choose from, from the 1-minute chart used by scalpers to the daily and monthly charts used by swing traders and position traders. This is done by selecting the type of line which is preferred then clicking on the chart to plot the two end points of the line, or in the case of the horizontal and vertical lines, clicking directly on the chart one time.
It also allows us to select an option to highlight the period as we scroll through the chart. The Sessions row shades the time when a certain major market is in session. The News and Calendar rows have colored tabs to indicate the impact a news may have.
Red indicates a high impact news, orange indicates moderate impact news and yellow indicates a low impact news. The Settings tab gives us options such as selecting the time zone on which the price feed is charted, the height and width of the chart displayed, the type of bars displayed on the chart, the displayed interval options, the cursor type, the color, and the option to zoom in and out by scrolling the mouse wheel.
The bar at the bottom of the chart allows us to quickly navigate the chart being displayed by dragging the whole bar or dragging one end of the bar. This quickly modifies the range of bars being displayed on the chart based on the selected period on the bar. The up and down arrow buttons on the lower right corner allows us to modify the height of the chart easily by dragging the button up or down.
Sessions Window Although the forex market is open 24 hours a day, it does not necessarily mean that traders should trade 24 hours a day. It would be detrimental for a trader to do so. It is not beneficial for a trader to risk health for the sake of earning a few pips every now and then. Traders should learn to time the forex market.
Certain forex pairs move with high volatility at certain times of the day. This is mainly because one of the currencies in the forex pair is being actively traded by a major market. This uptick in activity is due to the fact that the major market using the currency is open and actively trading.
As such, it is wise for traders to trade only when the major markets are active. Having a tool which allows us to quickly view which markets are open allows us to time our personal trading sessions. It also allows us to isolate which currencies is more active and focus on those active currency pairs rather than dispersing our focus on multiple currencies.
The Sessions tool of the Forex Factory allows us to do such. It quickly displays which market is currently open, which market would open next, and which market is closed or on a holiday. Below is an example of what the Sessions window looks like. It also displays the local time in the time zone of the market. It also highlights the time zone which is open. The Sessions tool also conveniently indicates which market is closed for a holiday, which would usually explain an unusually low volatility market condition.
This window provides a snapshot of past and upcoming events for the day which may affect certain currencies and its corresponding forex pairs. Below is a snapshot of Forex Factory Calendar window on the home page. Here we could find the date and time schedules of each upcoming news events, the currency pair which would most likely be affected, the severity of its probable impact as indicated by the color of its tab, the name of the news event, the details, the actual, forecasted and previous data, as well as the option to open the graph of the past economic data.
The impact of an upcoming news is indicated based on the color of its tab. But the main opposition communist party wants to pull out. Anastasiades can hold the line for now. After all, he has just been elected and the constitution gives him huge power. If Nicosia brought back the Cyprus pound, it would plummet in value.
Nobody knows how much, but economists guess it might be up to 50 percent. Cypriots are complaining at the massive haircuts suffered by big depositors in their two largest banks: Bank of Cyprus and Laiki. Such a massive devaluation would savage the wealth of all other depositors. Meanwhile, devaluation would fuel inflation. Cyprus is a small open economy. All the oil is imported. Over 80 percent of the textiles, chemicals, electronics, machinery and automotive vehicles are imported too, according to Alexander Apostolides, a lecturer in economics at the European University Cyprus.
Cyprus also relies on cheap immigrant labour in its agricultural and tourism industries. Following a devaluation, their cost in local currency would rise. All this would mean that any gain in competitiveness would be eroded. Given that Cyprus has limited access to hard currency reserves, this deficit would have to vanish overnight.
Nicosia has agreed a 10 billion euro bailout deal with its euro zone partners and the International Monetary Fund.
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