Different Types of the Technical Analysis Chart
Three primary types of the technical analysis chart
- Line Chart- is charted only with the closing price. The open, high or low and intraday swings are ignored
- Bar Chart (OHLC Chart)- is perhaps the most popular technical analysis chart. The high, low and close are used to form the price plot for each period of a bar chart.
- Candlestick (Japanese Candlestick) – Candlestick charts display the open, high, low, and closing prices in a format similar to a modern-day bar-chart, but in a manner that extenuates the relationship between the opening and closing prices. It gives the chart or the candlestick almost a three dimensional effect. Each “bar ” is called a candle. Price patterns can been seen more clearly and distinctly with candlesticks
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