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Types of Forex Charts


There are three types of forex chart that traders commonly use.

1. Bar chart
2. Candlestick chart
3. Line chart

 
 

Bar Chart

bar chartA bar chart shows the closing prices, opening prices, and highs and lows prices within the trading time period. The vertical line indicates the currency pair's trading range as a whole. The lowest portion of the vertical line indicates the lowest traded price, while the top portion of the vertical line indicates the highest traded price. The horizontal tinny line on the left is the opening price, and the right tinny line is the closing price. In some cases, the Bar chart also known as "OHLC" chart, because they indicate the Open, High, Low, and Close for that particular currency.

Bar chart


Candlestick Charts


candlestickCandlestick chart shows the same information as a bar chart, the body in the middle indicates the range between the opening and closing prices. The tinny vertical line on top is the highest traded price in the trading period, likewise the lowest portion of the tinny vertical line is the lowest traded price.

If the currency closed lower than it opened the body in the middle will be filled or colored in red. If the closing price is higher than the opening price then the middle body will be colored in green or unfilled.

Candlestick chart is one of the most popular chart used by all traders. See Detail study of Candlestick charting.

candlestick chart


Line Charts

line chartA line chart draws a line from one closing price to the next closing price. From the line chart, we can see the price movement of a currency pair over a period of time.

 

  

 

 
 
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