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Types of Technical Charts:1. Line Chart 2. Bar Charts 3. Candlestick Chart 1. Line Chart:The Line chart is taken into account because it is the simplest sort of chart because it shows only the closing prices for every time segment. The line is made by connecting the closing prices over the time frame. Line charts don't provide visual information of the trading range for the individual points like the high, low, and opening prices. The price is usually considered to be the foremost important price in commodity data compared to the high and low for the day and henceforth it's the sole value used in inline charts.
Bar Charts:The bar graph is formed from a series of vertical lines that represent each datum. This chart shows the changes in price for every time segment. The vertical line represents the high and low for the trading period, alongside the price. The close and open are represented on the vertical line by a horizontal dash. The opening price on a bar graph is illustrated by the dash that's located on the left side of the vertical bar. Conversely, the close is represented by the dash on the proper. Generally, if the left dash (open) is less than the proper dash (close) then the bar is going to be shaded black, representing an up period for the commodity. i.e., It indicates that it's gained value. A bar that's colored red signals that the commodity has gone down in value over that period. When this is often the case, the dash on the proper (close) is less than the dash on the left (open). Candlestick Chart:The candlestick chart is more visually appealing in comparison to the bar graph. The candlestick chart also features a thin vertical line showing the period's trading range. The formation of a good bar on the vertical line, illustrates the difference between the open and shut. The colours play an important role in briefing the happenings during the trading period. It is important to understand the configuration of the candlestick chart site we are operating, as different sites use different standards. There are two colour constructs for days up and one for days that the worth falls. When the worth of the commodity is up and closes above the opening trade, the candlestick will usually be white or clear. If the commodity has traded down for the amount, then the candlestick will usually be red or black, counting on the location. If the commodity price has closed above the previous day's close but below the times open, the candlestick is going to be black or crammed with the colour that's wont to indicate an up day.
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