by CI Staff
FX Accucharts is a charting program designed to help traders with technical analysis of foreign currency. The program provides up-to-the-minute quotes on all the major currency pairs. FX Global, the parent company of FX Accucharts, also offers GTS Pro, a trading platform that is compatible with FX Accucharts, allowing users to make trades directly from the charts.
After installing the program and logging in (an account must be created at the website), open up the program, and the navigation pane should appear on the left-hand side. This navigation pane separates the major currencies, enabling users to quickly find the currency pair in which they are interested. Clicking on a currency, or “all,” opens up a window that lists all the currency pairs for that section. Double-clicking on a currency pair opens up a candlestick chart.
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Numerous charts can be opened at one time, and each chart is customizable. Within each chart window, users are able to add multiple “sheets.” For the most part, these sheets can be used for different time frames for a particular currency pair. Candlestick charts open by default, but there are 12 different chart types available. The easiest way to insert an indicator is to right-click on the chart and select analysis tools. There are over 150 indicators that range from the most common indicators to the most specialized. Right above the chart in the lower toolbar, you will find all the drawing icons. The trend line pull-down menu allows you to toggle between drawing trend lines, trend channels and horizontal lines for support and resistance. In addition to trend lines, several other useful drawing functions are offered, including Fibonacci retracements and speed resistance lines.
If you have the GTS Pro trading platform installed on your computer, you may also trade directly from the charts, instead of toggling back and forth between the chart and the trading platform.
Overall, FX Accucharts is a user-friendly program allowing you to perform technical analysis of currency pairs. The website has a comprehensive video tutorial section that should help users get started. Please bear in mind, however, that currency trading is highly volatile and very risky. It should only be undertaken by experienced investors with the ability to tolerate the risk involved.
1 GHz or higher, 512 MB RAM, Windows operating system, internet connection (high-speed recommended)