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  1. #1
    Active Member Frontline's Avatar

    Good charts with trend lines etc. !!!

    FxStreet has very good FREE charts with automatically set trend lines and support and resistance lines - you don't need to draw them yourself. They also have a candle time calculator on the right side of the chart, which shows how much time is left before the candle expires.

    In the Settings set the indicators you want, and the system draws the lines. On the site click "Rates and Charts" and then "Live Charts Window". Clear and simple charts.

    Take a look and tell what do you think!

  2. #2
    Legendry Member Michael Hodges's Avatar
    It's an interesting place to start. These charts are nice, do you have any information on how they choose their levels?

    Support and resistance lines are always so subjective though I'd hate to rely on only one auto-drawn line, especially since the lines I've noticed in my own work that s/r lines can be drawn from the lowest close, and the lowest intraday point of a candle (or intra hour, whatever time frame you are using....basically the tip of the shadow and not the close) and both are relevant to trading. Not to mention the fact that supports and resistance can be different in different time frames, the long time frame being the strongest, usually. Also, some support/resistance lines can be wiped out by price action so that they no longer stop price movement.

  3. #3
    Active Member Frontline's Avatar
    Yes, Michael. The support and resistance lines are subjective, "shady" lines, but for me they are giving a hint where they can be. They give kind of perspective on the chart, where we are going now. I think these charts can be useful for beginning traders, who are just learning where to draw the lines.

    The lines change in the lower timeframe charts along the day, while in higher timeframe charts they don't change much.

    I don't know how they choose the levels. There are several (three) data providers as you can see, but the charts are the same for all of them. So maybe FxStreet programs the lines.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Frontline View Post
    Yes, Michael. The support and resistance lines are subjective, "shady" lines, but for me they are giving a hint where they can be. They give kind of perspective on the chart, where we are going now. I think these charts can be useful for beginning traders, who are just learning where to draw the lines.

    The lines change in the lower timeframe charts along the day, while in higher timeframe charts they don't change much.

    I don't know how they choose the levels. There are several (three) data providers as you can see, but the charts are the same for all of them. So maybe FxStreet programs the lines.
    Thanks, I was just coming back to add to my commentary... no matter what, no matter how you pick s/r whether it be a service, an indicator, hand drawn lines, pivot points, Fibonacci what have you the lines are a REFERENCE point from which trades can be made. You use the lines and the common rules of s/r to make decisions about trades, no line, no indicator, is a fool proof method.

    PS, I do like those charts, they look a little crowded with the oblique and horizontal s/r lines but they appear to work fairly well for trend following and s/r entry signals.

  5. #5
    Active Member Frontline's Avatar
    Well, then they must be good charts if YOU like them : ) Watch the videos and read the PDF manual, and you get more information about these charts.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Frontline View Post
    Well, then they must be good charts if YOU like them : ) Watch the videos and read the PDF manual, and you get more information about these charts.
    What I don't like is bullshit, and scams, and people who post meaningless drivel disguised as information. What I do like are useful tools that don't mislead newbies (I assume the experienced traders can take care of themselves) and things I can recommend to others. Thanks for the info.

  7. #7
    Legendry Member milos's Avatar
    I've been using MT4 charts.There are dozen free trading indicators. They can be uploaded and tested in the future.

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