I am surprised that forex traders have just accepted forex charting platforms displaying prices to four decimal places.
This makes the candlestick charts (especially smaller timeframes) and the price values displayed in charting platforms considerably more difficult to interpret.
You have to ignore the fifth decimal place pipette and instead pick out and read the 2nd and 3rd to last numbers on five decimal place displays, but on four decimal place displays you simply look at the last two numbers, which is a slightly quicker/easier process for human eyes and the human brain.
The fifth decimal place pipette, while i am glad that brokers go to less than a fourth decimal place pip, is irrelevant to a traders trade entry and trade exit decisions and so has no place on a chart.
Thus all forex charting platforms should display forex prices to four not five decimal places.
This is not so because it would mean extra work for the charting platform providers and possibly brokers also.
Resulting in a significantly poorer end product service for actual charting platform and broker users - forex traders, which is wrong.
Disadvantages of five decimal place charts versus four decimal place charts -
More difficult to read and visually-mentally process the displayed price.
Less than one pip pipette price movement means more ticks of price movement, but below one pip of price movement is irrelevant noise to the chart user.
Results in visually bigger candlesticks especially on smaller timeframe charts, due to the less than one pip pipette price movements, which gives the impression of more pips price movement than has actually occurred.
Sometimes unequal intervals in the charts right axis.
But to help us a little to overcome these disadvantages, we can consider 10 pips on a four decimal place chart as being equal to 100 pipettes on a five decimal place chart. So we can still predominantly look at the last two decimal places on four and five decimal place charts.
The few remaining MT4 brokers that still display forex prices to four decimal places -
http://www.forexfactory.com/showthre...01#post8651501
GCI MT4
IFX Trader
FIBO Group
VINSON Trader 4
What other forex charting platforms display forex prices to four rather than the chart user unfriendly new norm of five decimal places?
Thanks.
This makes the candlestick charts (especially smaller timeframes) and the price values displayed in charting platforms considerably more difficult to interpret.
You have to ignore the fifth decimal place pipette and instead pick out and read the 2nd and 3rd to last numbers on five decimal place displays, but on four decimal place displays you simply look at the last two numbers, which is a slightly quicker/easier process for human eyes and the human brain.
The fifth decimal place pipette, while i am glad that brokers go to less than a fourth decimal place pip, is irrelevant to a traders trade entry and trade exit decisions and so has no place on a chart.
Thus all forex charting platforms should display forex prices to four not five decimal places.
This is not so because it would mean extra work for the charting platform providers and possibly brokers also.
Resulting in a significantly poorer end product service for actual charting platform and broker users - forex traders, which is wrong.
Disadvantages of five decimal place charts versus four decimal place charts -
More difficult to read and visually-mentally process the displayed price.
Less than one pip pipette price movement means more ticks of price movement, but below one pip of price movement is irrelevant noise to the chart user.
Results in visually bigger candlesticks especially on smaller timeframe charts, due to the less than one pip pipette price movements, which gives the impression of more pips price movement than has actually occurred.
Sometimes unequal intervals in the charts right axis.
But to help us a little to overcome these disadvantages, we can consider 10 pips on a four decimal place chart as being equal to 100 pipettes on a five decimal place chart. So we can still predominantly look at the last two decimal places on four and five decimal place charts.
The few remaining MT4 brokers that still display forex prices to four decimal places -
http://www.forexfactory.com/showthre...01#post8651501
GCI MT4
IFX Trader
FIBO Group
VINSON Trader 4
What other forex charting platforms display forex prices to four rather than the chart user unfriendly new norm of five decimal places?
Thanks.