Forex encyclopedia

The foreign exchange market itself experienced a rapid growth in the early decades of the 70s. As for the cause of the foreign exchange market is growing rapidly, among others are: 1. Movements in foreign exchange rates that experienced significant movement so that it appeals to certain circles to engage in the foreign exchange market. 2. Businesses are getting more global. As business competition gets bigger, companies need to find new resources that are cheaper, and spread all over the world, causing demand for the currency of a particular country. 3. The rapid development of telecommunications in the presence of telephone, telex, fax, internet, has made it easier for market participants to communicate, making transactions easier. 4. Gains earned in the foreign exchange market tend to increase the desire of various parties trying to gain a gain (profit) from the movement of foreign exchange rates.
Popular article: Renko Trading System
This type of chart is applied in technical analysis, which renders movement of the price in the form of diagonal rows consisting from rectangles (bricks). Each new rectangle is always built to the right from the previous one and its location is higher or below the previous Renko rectangle. Mentioned upward or downward movement of price (for example, each 10 points) is marked by adding rectangle below (above) and to the right from the previous one. Upward movement is indicated by a transparent brick whereas downward movement (below previous value) – by a colored brick.
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Forex encyclopedia
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