Time frames and interval settings for a chart
You can access available time frames in one of the three following ways:
- Left click on the
icon within the chart toolbar.
- Right click in the charting area to bring up the chart context menu, then select Settings followed by the Time Frame menu item.
- Click on chart and press Space button, then type interval in open dialog:
Select the Configuration Escort -> General -> ActionBar tab from the Tools main menu to define your own time frames or change existing time frames (periodicity and interval).
The following periodicities are available within the Configuration Escort:
- Seconds: x seconds per candle
- Minutes: x minutes per candle
- Hours: x hours per candle
- Days: x days per candle
- Weeks: x weeks per candle
- Months: x months per candle
- Ticks: x ticks per candle (a tick = one trade)
- Volumes: x traded shares/contracts per candle
- Range: x cents/pips/points/ticks per candle (price range)
In this case x corresponds to the interval entered.
Once all necessary changes have been made, the time frames will become available within the toolbar on the chart. Left click on one of these time intervals to apply it to the current chart.
With Custom Parameter you can open Instrument-Dialog where you can edit following chart-settings:
- Instrument: displays the instrument symbol. You can enter a symbol by doing one of the following:
- enter the instrument symbol manually. If your entry is not registered within the Instrument Escort it will be automatically deleted.
- press the
button to open the Instrument Manager and select the desired instrument from the list.
- Periodicity and Interval: defines the properties of a time frame for the instrument representation on the chart.
- PriceStyle: defines the chart visualization (candle chart, bar chart, line chart, etc.)
- History:
- Bars count: displays the amount of historical periods (bars) on the chart.
- Time period: displays the history for the last x days using the "Days back" option, or the history over a period of time when you enter the start and end dates.
- Template: stores user chart templates to be selected and applied to a chart. If none are chosen the default template will be loaded.
Note: "Direkt" means a chart, that gets one-on-one data as well as style from data feed. As opposed to this, "Processed" means a chart that gets data from data feed but style is calculated by AgenaTrader.
Direct Chart
Direct charts = chart downloaded and displayed directly 1 to 1 from datafeed
Important! For minute timeframe charts (such as 3min, 7min etc) calculation start when markets open
Processed charts
Processed charts = data from datafeed, chart style calculated in AgenaTrader.
Ticks
Time-based charts plot a new candle after a certain time interval (for example every 5 minutes).
Tick-based charts plot a new candle only after a specified number of trades (for example 150 ticks/trades) have been executed.
Considering the trader's need to display more historical data on a chart, we set the maximum amount of tick data to 10 000 bars (or 20 working days).
Volume
Time-based charts plot a new candle after a certain time interval (for example every 5 minutes).
Volume-based charts plot a new candle only after a specified volume (for example 200 shares/contracts) has been traded.
Range
Time-based charts plot a new candle after a certain time interval (for example every 5 minutes).
Range charts plot a new candle only after a specified price range (for example 30 ticks/points/cents/pips) has been exceeded.
Heikin Ashi
Within the daily time frame, each Heikin Ashi candlestick represents an interval of exactly one day. Days on which prices moved down (on average) are plotted as red candles, whereas an average upward pace of prices is plotted as a green candle.
Heikin Ashi charts are suitbable for all markets but are mostly used in the stock and commodities markets.
There are five important signals which will help you to identify trends:
- Green candles indicate an upward trend - a favorable time to expand long positions or get rid of short positions.
- Green candles without a long shadow indicate a strong upwards trend (it is recommended to continue running long positions until the market changes direction)
- A short candle with shadows on the bottom and top (lines above and below the candle body) indicates a trend reversal. Risk-loving traders can make decisions on whether to buy or sell, whereas risk-averse traders should await confirmation of the trend before opening a short or long position.
- Red candles indicate a downtrend - time to expand short positions or get rid of long positions to limit losses.
- Red candles without long shadows indicate a strong downtrend (it is recommended to continue running short positions until the market changes direction).
Renko chart
The Renko chart is another chart type that plots prices with no regard to time.
The Renko chart was invented in Japan. Its name is translated from the Japanese “renga”, meaning “brick”. The Renko chart is similar to the P&F chart developed by Charles Dow, in that the time axis is also missing in this chart.
This chart consists of black and white bricks. Black bricks are plotted when the price falls, and white bricks, when the price rises. When constructing the Renko chart, only the closing prices of an instrument are considered. New bricks are created when the current closing price exceeds the minimum brick size. If price volatility during a specific period is minimal or the brick size is too large, it can take several days before a new brick is plotted.
The fundamental characteristic of the Renko chart (much like the P&F chart) is a clear representation of existing trends and trend reversals. This is why it is important to assign the correct brick size. A brick size that is too small increases chart sensitivity, leading to too many trend changes (and also bad signals) being plotted. A brick size that is too large results in significantly late detection of trend changes.
The following settings can be adjusted within the Time Frame::
- Box Size: shows the box size (in fixed/points/etc.) that defines when a new X or O is drawn. The smaller the box size, the more sensitive the chart.
- Use ATR (20): shows the ATR multiplier that defines box size/reversal based on the average size of the last 20 candles.
The following settings can be adjusted within the Time Frame:
Three line break chart
The three line break chart responds to the dynamic of price changes (without regard to time) and is considered to be able to show changes in the trend. The bars on this chart have different heights. White bars indicate rising prices and red bars indicate falling prices.
When the current closing price exceeds the high of the previous day, the next white bar is plotted.
The next red bar is plotted when the current closing price falls below the low of the previous day.
If the price does not exceed the high or low of the previous day, no new bar will be plotted.
If there is a strong trend in which three white bars have been plotted following each other in direct succession, then a trend reversal will be only initiated when the low of these three bars is broken by the current price.
The following settings can be adjusted within the Time Frame:
Kagi chart
Kagi charts can be useful for trend analysis and making buy or sell decisions. Thick (yang) lines are drawn when demand exceeds supply, indicating an upward trend and consequent bull market. Thin (yin) lines are drawn when supply exceeds demand, indicating a downward trend and consequent bear market.
When the Kagi line goes from thin to thick then buy signals are generated, and when it goes from thick to thin then sell signals are generated.
The following settings can be adjusted within the Time Frame::
- Reversal Size: shows the multiplier for the box size that defines after how many reversal boxes a new column with X or O symbols will be plotted.
- Use ATR (20): shows the ATR multiplier that defines reversal size based on the average size of the last 20 candles.
Point&Figure
The Point & Figure (P&F) chart was developed by Charles Dow and first described in his book in 1898, making this chart the oldest Western chart type.
The interesting aspect of this price representation is the absence of a time axis. The aim is to highlight the changes in the direction of existing trends.
The P&F chart plots an 'X' when the price rises and an 'O' when the price falls. The height of a column depends upon the so-called 'box size' - the price range for X's or O's.
As soon as the price has exceeded the current box size, a new X is displayed in an upward trend (and consequently, O is displayed in a downward trend).
Example. Let's assume that the Daimler's current price is 35.10€. If the box size is set to 1€, a new X will only be plotted if the price reaches a minimum of 36€.
All values between 35€ and 36€ will not initiate a change.
Along with the box size, another important element of the P&F chart is the reversal setting. The reversal setting determines whether a change between the X and O columns occurs.
The trader determines the reversal setting as a multiple of “box sizes” that creates a reversal signal after the last high or low in a price.
Example. Let's assume that the Daimler's last 'low' price is 15€. If reversal is set as 5x the box size (1€ x 5), a change from O to X columns will occur at a price level of 20€. Should the price only reach 19€, a reversal signal will not be generated and the O column will continue to be plotted.
The following settings can be adjusted within the Time Frame:
- Box Size: shows the box size (in fixed/points/etc.) that defines when a new X or O is drawn. The smaller the box size, the more sensitive the chart. ATR (20): shows the ATR multiplier that defines box size/reversal based on the average size of the last 20 candles.
- Reversal Size: shows the multiplier for the box size that defines after how many reversal boxes a new column with X or O symbols will be plotted.
Non-time-based charts
Advantages:
- time intervals with less activity are compressed (fewer candles)
- time intervals with more activity are expanded (more candles)
- price movement cycles are more continuous and smooth
Disadvantages:
- strong and weak market cycles are less visible since there are no long/short candles in the chart.