seeking advice about the basics of chart reading
"price: open , close , high , low
appear in the chart with every tick. what exactly cause the appearance of a tick ? it is dependant on the action of the broker ? a time frame below 1 minute ?"
Dealer sends you a new price at which you can trade with him, or sometimes just "refreshes" the same values. A new bar does not appear until the first tick is received for that bar, after "timeout" of the prior bar. Look at 1 minute chart carefully, sometimes there are minute bars missing with most dealers during quiet trading times, no tick received.
"the close price is matching with the bid price any time. what exactly means : open , high , low ? what do do with these values ? trades involve bid and ask price."
open - first bid price received for that bar
high - highest bid price of bar
low - lowest bid
close - last bid price of that bar. Same as bid for the current bar (which has not completed forming yet). What to do with these values? Do with them as you wish. They are price history. You can only trade the current bid/ask, correct. Using MT4 you buy at the Ask price, and sell at the Bid price.
"what is exactly means volume ? it is coming as well with every tick"
Forex does not report volume like equities (#of shares traded) or other securities traded on a central exchange. The Volume indication in MT4 is a count of ticks received "per bar".
appear in the chart with every tick. what exactly cause the appearance of a tick ? it is dependant on the action of the broker ? a time frame below 1 minute ?"
Dealer sends you a new price at which you can trade with him, or sometimes just "refreshes" the same values. A new bar does not appear until the first tick is received for that bar, after "timeout" of the prior bar. Look at 1 minute chart carefully, sometimes there are minute bars missing with most dealers during quiet trading times, no tick received.
"the close price is matching with the bid price any time. what exactly means : open , high , low ? what do do with these values ? trades involve bid and ask price."
open - first bid price received for that bar
high - highest bid price of bar
low - lowest bid
close - last bid price of that bar. Same as bid for the current bar (which has not completed forming yet). What to do with these values? Do with them as you wish. They are price history. You can only trade the current bid/ask, correct. Using MT4 you buy at the Ask price, and sell at the Bid price.
"what is exactly means volume ? it is coming as well with every tick"
Forex does not report volume like equities (#of shares traded) or other securities traded on a central exchange. The Volume indication in MT4 is a count of ticks received "per bar".
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i am sure to meet expierienced traders in this forum. as a very beginner i need some advice when it comes to the basics of chart reading.
i learned that infos as:
price: open , close , high , low
appear in the chart with every tick. what exactly cause the appearance of a tick ? it is dependant on the action of the broker ? a time frame below 1 minute ?
the close price is matching with the bid price any time. what exactly means : open , high , low ? what do do with these values ? trades involve bid and ask price.
what is exactly means volume ? it is coming as well with every tick.