Forex bar.

A bar chart is one of the options for displaying price movement and is used in technical analysis. The chart is formed on the basis of Forex bars, which characterize a particular time frame.

A Forex bar is a certain time period, expressed in the form of a graphical plot, which allows you to find out the main price indicators on the selected time frame.

The main time frames of bars are 1, 5, 15 and 30 minutes, 1 and 4 hours, day, week, month. By selecting the appropriate interval, you observe from 20 to 100 bars, depending on the display scale.

<Each of which will correspond in length to the name of the chart timeframe, for example, on M15, one bar is equal to 15 minutes.

Forex bar structure.

Each of the bars has a complex structure that allows us to evaluate the behavior of the rate:

Opening price - the price of the first transaction in a given period.

Closing price is the last trade in the time frame.

Maximum rate (maximum) – the maximum rate that has been achieved.

Minimum indicator (minimum) – the lowest price value for a given time.

In addition, you can find out in which direction the price moved on the analyzed bar, first of all, this can be seen by the opening and closing price marks, if the opening mark is at the bottom of the bar on the left side, and the closing mark is at the top of the bar and on the right side, then this is an ascending time frame and vice versa.

But it’s easier to change the settings a little in the trader’s trading terminal - right-click on the chart and select “Properties”, in the window that opens, go to the “Colors” tab and change the color down to Red. Now all ascending Forex bars in our chart window are displayed in green, and those that show a downward trend are displayed in red.