This is a certain time period reflected in the working asset graph. It is used to make quotes for each asset used in the price chart. In the construction of indicators of a candlestick, a forex time frame has been used, linear and other types of technical analysis.
Times frames are divided into many types by traders. The trader can start from the very short time intervals to month intervals. Nearly all terminals with most traders have standard time frames of varying lengths in different directions.
There are three groups divided:
-Minutes: The interval starts from a minute to 30. (1,5,15,30min)
-Hourly: Hourly time period is 1 or 4 hours.
-Higher-Order Period: D1 – Daily timeframe. This interval is adjusted during the day. W1 is the weekly and MN is the monthly timeframe.
Although certain platforms default to the annual period, you can change the time frame by using the settings if the time frame doesn’t suit you.
The characteristics of each type of timeframe are different. Scalpers usually use the short-term group of periods in Forex Trading. They are targeted at fast profits. Traders actively use the leverage opened at the terminal with this strategy so that the work requires special protection with the slightest change in price direction.
Minutes timeframes can be used for experienced traders who can quickly evaluate the actual situation and make good adjustments. Beginners should pay attention to longer time periods.
Medium-term timeframes are gained popularity by the convenience of intraday trade.
Long-term timeframes are used by the long term traders whos hold trades for days and weeks.