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Chart functions 📊
Jacob avatar
Written by Jacob
Updated over a week ago

An Introduction to Charts for Our Users 📊

We offer to our users a variety of chart functions to make their experience better. In this article, we will go over each of the sections of our chart functions, which consist of Chart period, Type of candle, Indicators, Drawing tools, Zoom tools, and Layout Storage.

  • What is chart period?

Chart period is the specific time frame or interval used to display price and volume data on a price chart. Traders and investors use different chart periods to analyze financial market data and make trading decisions. The choice of chart period can significantly impact the way trends and patterns are observed, as well as the trading strategies employed. Here are some common chart periods and their definitions:

Each period option can be selected as a favorite, making it easy to change the period between your favorite options.

When you click on the star option ⭐, all favorite options will be highlighted in the top left corner of your screen.

The choice of chart period depends on a trader's or investor's trading style, time horizon, and the specific market they are trading. Shorter time frames are more suitable for day trading and capturing short-term price fluctuations, while longer time frames are better for identifying and trading longer-term trends. Traders often use multiple chart periods in conjunction with technical analysis tools to gain a comprehensive view of the market and make informed trading decisions.

No matter what your style of trading or investment is, understanding the different chart periods available and how they can help you make informed decisions is essential to your success in the markets. We hope this article has provided an introduction to chart periods and the features our users have access to.​

  • Types of candles

The candles option can be found in the top left corner of your chart. By clicking on this option, you will be able to see all the candle options that you can use during trading. When you select your favorite ⭐ candle style, you will see the favorite candle styles in the top left corner of your screen, making it easy for you to switch between your favorite candle types quickly and easily.

In the context of trading, a "candle" typically refers to a candlestick chart, which is a popular tool used by technical analysts to visualize price movements in financial markets, such as stocks, forex, cryptocurrencies, and commodities. Candlestick charts provide valuable information about price action and can help traders make informed decisions.

The list of candles available to be used is made up of the following types:

1. Bars
​2. Candles
​3. Hollow candles
​4. Columns
​5. Line
​6. Line with markers.
​7. Step line
​8. Area.
​9. HLC area
​10. Baseline
​11. High-low
​12. Heikin Ashi

Trading with multiple types of candles, also known as candlestick patterns, can provide several benefits to traders. Candlestick patterns are visual representations of price movements in a specified time frame and can help traders make informed decisions. Here are some benefits of using multiple types of candles for trading:

While using multiple types of candles can be beneficial, it's essential for traders to combine candlestick analysis with other technical and fundamental analysis methods and to practice risk management to achieve consistent success in trading. Additionally, traders should thoroughly understand the limitations and potential pitfalls associated with candlestick patterns.

  • Here are some benefits of using multiple types of candles for trading:

Price Patterns Identification: Different candlestick patterns indicate various price movements and market sentiments. By using multiple types of candles, traders can identify a wider range of price patterns, such as reversal patterns (e.g., Doji, Hammer, Shooting Star) and continuation patterns (e.g., Bullish Engulfing, Bearish Harami). This helps traders make more accurate predictions about future price movements.

Entry and Exit Signals: Candlestick patterns can serve as entry and exit signals for traders. By using a variety of candlestick patterns, traders can develop a more comprehensive trading strategy that includes specific conditions for entering and exiting trades. This can help traders minimize losses and maximize profits.

Confirmation of Analysis: Traders often use technical analysis indicators and chart patterns to make trading decisions. Candlestick patterns can provide confirmation of other technical analysis signals. For example, if a candlestick pattern forms at a key support or resistance level, it can confirm the significance of that level and increase a trader's confidence in their analysis.

Trend Reversal Identification: Certain candlestick patterns are particularly effective at identifying potential trend reversals. For example, a series of bearish candlestick patterns followed by a bullish reversal pattern may signal a trend change from bearish to bullish. Having a variety of candlestick patterns at your disposal allows you to spot trend reversals more accurately.

Risk Management: Using multiple types of candles can enhance risk management. Traders can set stop-loss orders based on specific candlestick patterns or use them as signals to tighten or widen their stop-loss levels. This can help traders limit potential losses and protect their capital.

Time Frame Flexibility: Candlestick patterns can be applied to various time frames, from minute charts for day trading to daily or weekly charts for longer-term trading. By using multiple types of candles on different time frames, traders can adapt their strategies to suit their preferred trading style.

Psychological Analysis: Candlestick patterns also provide insights into market psychology. For example, long wicks and tails can indicate indecision or a battle between buyers and sellers. Understanding market sentiment can help traders gauge the strength of a trend or potential reversals.

Versatility: Different candlestick patterns work better in different market conditions. By having a range of candlestick patterns in their toolkit, traders can adapt to changing market dynamics and choose the most appropriate patterns for the current situation.

Education and Skill Development: Learning and applying multiple types of candles can be an educational experience for traders. It helps traders develop a deeper understanding of market dynamics and technical analysis, which can lead to improved trading skills over time.

Indicators

  • What are Indicators?

Indicators for trading, also known as technical indicators, are mathematical calculations or visual representations of price, volume, or other market data used by traders and investors to make informed decisions about buying or selling financial assets, such as stocks, currencies, commodities, or cryptocurrencies. These indicators are typically applied to price charts to help traders identify trends, reversals, or potential entry and exit points in the market.

  • Where to find indicators?

The list of indicators can be found by clicking on the "Indicators" symbol in the top left corner of your chart.

  • Favoriting indicators

Just like the period and candle types, you can favorite the indicators that are most useful to you.

When you select an indicator as a favorite, you will see the favorite indicators in the list of indicators, represented by the gold star. ⭐

  • Editing Indicators

Each indicator has its respective editing options, some may contain options for editing lines, patterns and colors, making your trading mode unique and the way you want.

  • Deleting Indicators

When you feel the need to delete an indicator, you can click on the ''X'' symbol as we can see in the image below or by clicking on the trash symbol in the bottom left corner with your chart.

Drawing tools

  • Why should I use these drawing tools, will I have any benefits?

Drawing tools for trading can provide several benefits to traders and investors. These tools are often available on trading platforms and charting software and can help traders make more informed decisions, analyze price movements, and develop effective trading strategies.

Here are some of the key benefits of using drawing tools in trading: Technical Analysis, Trend Identification, Support and Resistance, Pattern Recognition, Fibonacci Retracement, Risk Management, Trade Planning, Strategy Development, Psychological Support and Educational Value.

Drawing tools are valuable for trading and should be used in conjunction with other forms of analysis and risk management techniques.

  • What types of drawing tools can be used?

In addition to the drawing tool, trading platforms often provide options to customize the mouse pointer for easier cursor location while navigating among the various details which the graph can show.

Trend-Lines, Gann and Fibonacci tools, Geometric shapes, Annotation tools, Patterns, Forecasting and measurement tools and Icons are some of the drawing tools which can be used to make changes to the graph. These options can be found in the left side of the trading chart.

Each tool has a huge list of variations which can be used, and traders can add their favorite tools to their favorites list by clicking on the gold star symbol which can be found in the top right corner of the chart.

Traders can add several tools to their favorites list, which can then be found in the bottom left corner of the screen by the star symbol, which will this time be gray in color.

Using drawing tools for trading can provide a great advantage for traders as they can accurately define their trading strategy, quickly identify key trends, or even gain a better understanding of the markets behavior and potential opportunities. It is important to consider however, the use of drawing tools in conjunction with other forms of analysis and risk management techniques.

  • How do I stop my drawings from being accidentally deleted?

It's very simple to prevent this from happening, so we created the functions in the tool menu itself:

  • Stay in drawing mode
    So that it is possible to draw without the chart being accidentally moved.

  • Lock all drawing tools
    So that the drawing function is stopped momentarily so that the drawings already made are not altered.

  • Hide all drawings
    Hide all drawings already made on your chart.

  • How do I see all the tools present on my chart, such as active indicators, drawing tools, etc.?

In the bottom left corner of your chart you will see the "Object Tree" option.




When you click on this option, you will see not only the drawing tools, but also indicators and assets. In the same window that will be created, you can hide the tool or delete that same tool from the chart.

Zoom Tools

  • How do I zoom in the chart?

Zoom and measurement tools are an important part of chart analysis and can be found on the left side of your screen. With these tools, you can zoom in to view a single candle or zoom out to assess the overall trend on a wider time frame. You can also use the zoom tool to measure the distance between two candles or two points on the chart. To do this, click and drag from the first candle or point to the second one.

To zoom in, select the magnifying glass icon. This will enable you to select a specific area of the chart. You can adjust the size and selection by clicking and dragging with your mouse. Once you have selected the desired region, you can release the mouse to magnify the selected area.


The zoom tool will then display the distance between them, in terms of time, price, or both. Sometimes it is also useful to zoom out to get an overview of the market. To do this, click and hold down your left mouse button on the chart. Zoom tools are a great way to take a closer look at what is happening on the chart and to measure the size of movements within the overall trend.

Layout Storage

  • How do I save my chart settings?

At Walbi, you can save all the settings and create layouts in your favorite way, it has never been easier to manage different strategies quickly and switch between these layouts with ease.

In order to save your layouts, you have to first click on the arrow pointing downwards, located in the upper right corner of your screen. After you do that, you'll be able to observe four different options: "Save Layout", "Rename", "Make a copy" and "Load Layout". You can use these options to save and switch between different layouts.

The chart settings option located in the upper right corner allows you to configure the candles, Status Line, Scales, Appearance and Data modification of your chart. In addition, the Full Screen and Screenshot options are located next to the settings option. All changes will be saved automatically in the background, so no need to worry about saving them manually.

Need to change the asset's price settings? Click on the small hezagon located in the bottom right corner of your screen and adjust the settings according to your needs.

Layout Storage has never been more convenient or efficient with Walbi. Use it to create different strategies and switch between layouts with ease!

We hope that this article will help our users better understand our chart functions. If you have any further questions, please reach out to our customer service team or go to our help center for more information.


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