Forex trading is quite an attractive venture that many people pursue in the hopes of earning financial freedom and freeing themselves from the rat race. However, if you have some experience in the forex market, then you know that consistently making a profit out of the forex market can be quite difficult. You probably also know just how important it is to have reliable forex charts, especially if you have a strategy that is aimed at automated forex trading.
If you want to leverage both manual trading as well as automated forex trading, then you should consider forex charting platforms that offer forex charting tools such as forex expert advisors or forex bots. Automated trading is increasingly becoming an appealing feature, and so many FX platforms have been focusing on making these features available.
There are many charting services in the forex market, but quite a number of them require users to pay a regular fee to access essential tools. However, some forex charts in the market that are free but still manage to provide useful tools, thus easing the trader’s financial burden.
1MetaTrader 4
If you are looking for a comprehensive free charting platform that is also flexible enough to provide FX expert advisors and elaborate customizable charts, then this is one of the charting software that you should consider. It is quite popular in the trading community and is used by millions of traders. MT4 provides traders with access to a comprehensive list of technical analysis tools, such as indicators.
MT4 has algorithmic trading features that allow traders to develop and test their automated trading bots while also integrating them with their preferred indicators. The trading software has the best indicators for automated forex trading. It is ideal for that trader that has a highly successful trading strategy but wants to take it to the next level by automating it so that he/she can have more free time as the system does the work on his/her behalf.
MT4 has a trading strategy editor that has an in-built editor as well as MQL4 support. The charting platform uses the MQL4 programming language for trading bot programming because it is highly efficient, flexible, and it also offers a lot of functionality. The idea behind these features is to make it easier for traders to create trading bots.
2NinjaTrader
This trading platform is also quite popular with traders and for the right reasons. First of all, it is free, and it provides access not only to advanced charts, but it also allows traders to trade simulations and strategy testing. Some charting software only provides access to charts and charting tools, but NinjaTrader offers a comprehensive experience because it also allows traders to execute trades within its interface.
NinjaTrader also offers access to a wide variety of tools that allow traders to customize their charts to suit their strategies. Among its offerings include automated FX trading features that it offers through its modern trading framework that is based on the C# programming language. Traders can program forex EAs on the platform that will allow them to execute their automated trading strategies.
3TradingView
It is considered one of the best charting software not only because it offers free access to comprehensive trading charts but also because it provides access to multiple markets. Traders can also access those markets through multiple devices and from anywhere as long as there is the internet since it has a cloud-based interface.
The trading platform also allows traders to customize the charts to their preference. They also get access to a wide range of tools, such as scanning tools and technical indicators.TradingView has also taken a similar approach as other major charting platforms by offering the ability to develop or customize forex expert advisors or automated trading bots. It means that traders interested in automating their strategies can earn their money passively.
4TrendSpider
This free charting platform is considered one of the most innovative trading software in the market because it leverages an AI-powered algorithm. It allows it to automate most of the analysis that the trader would have to do manually. The advantage of this approach is that it will enable traders to see trend behaviors that they would have otherwise not been able to see. It also makes it the best platform for newbie traders.
Its developers designed it to be intuitive, thus easy for traders to use so that they can access not only the forex markets but also stocks and cryptocurrency charts.It has features such as automatic heat maps and automated trend line scanners, multiple timeframe analysis, candlestick pattern scanners, and many others.
5FinViz
It is yet charting software that is popular with many forex traders from across the world. It also offers charts for commodities and stocks. But more importantly, it is free, and this means that one does not need to have a paid subscription to access useful features such as portfolio management tools, heat maps, charts, and technical indicators.
The platform also offers automated technical analysis features so that traders no longer have to do the bulk work as far as chart analysis is concerned since the system will do it all for you. It also makes it ideal for beginners.
