Community Forex Questions
Bar Charts
Best for trading: Forex, stocks, indices and commodities
Trading experience: Intermediate
Technical analysis technique: Use price data (HLOC) to identify trends, support/resistance and entry points
Advantages: Provides the trader with more detail which helps to identify key levels and in-depth data
In a bar chart, the high, low, open, and closing (HLOC) prices are displayed for each period. Vertical lines are formed by the high and low price of the bar. The dash to the left of the bar represents the opening price, and the dash to the right represents the closing price.
If a bar closes up (green) or down (red), the trader can determine the market sentiment (bullish/bearish) for that period.
The similarities between this chart type and a candlestick chart are visible when they are viewed side by side, but a bar chart is better for a cleaner market view. By removing the bolded colour from the chart, traders can view market trends with an uncomplicated outlook.
Trading experience: Intermediate
Technical analysis technique: Use price data (HLOC) to identify trends, support/resistance and entry points
Advantages: Provides the trader with more detail which helps to identify key levels and in-depth data
In a bar chart, the high, low, open, and closing (HLOC) prices are displayed for each period. Vertical lines are formed by the high and low price of the bar. The dash to the left of the bar represents the opening price, and the dash to the right represents the closing price.
If a bar closes up (green) or down (red), the trader can determine the market sentiment (bullish/bearish) for that period.
The similarities between this chart type and a candlestick chart are visible when they are viewed side by side, but a bar chart is better for a cleaner market view. By removing the bolded colour from the chart, traders can view market trends with an uncomplicated outlook.
Apr 19, 2022 10:39