Types of Charts - Different Types of Charts
Types of Charts
There are 3 types of charts: Line chart, bar chart & candlestick chart.
Candlesticks Charts - Types of Candlesticks Charts in Forex Trading - the candlesticks charts use the same price data as bar charts (open, high, low, and close). However, they represent the charts in a much more easily identifiable way that resembles a candle with wicks on both ends.
How Do I Trade Candles Charts
Rectangle part of the candlestick is referred to as the body.
The high & low are described as shadows and are plotted as poking lines.
Various Types of Charts - Types of Charts and How to Read Them in Forex Trading
The color of trading candlestick is either blue or red
- (Blue or Green Color candlestick) - price moved upward
- (Red Color candle-stick) - price went downward
Most forex platforms like the MT4 software, use colors to mark direction of price. Colours used are blue or green: - green candle when price moves upwards, red candle when the price moves downwards.
Forex Line Charts - Line Charts in Forex Trading
A line chart in Forex draws the closing price of a pair and connects this closing price to the closing price of next trading period therefore forming a continuous line chart which draws the movement of price movement.
Line Chart - draws a continuous line connecting closing prices of a on the price chart.
Various Types of Charts - Types of Charts and How to Read Them
Forex Bar Chart - Bar Chart in Forex Trading
Bar Charts are charts representations of price portrayed as sequence of OHCL bars. O H C L represents OPEN HIGH LOW & CLOSE. Opening price is displayed as a horizontal dash to the left and the closing price as a horizontal dash to the right.
Various Types of Charts - Types of Charts PDF - How to Trade Charts
