Charts are graphical representations of securities pricing information over time. The charts plot historical data based on a combination of price, volume, and time interval.

The use of charts is so prevalent that technical analysts are often referred to as chartists. Originally, charts were being removed manually, but nowadays many charts are computer-generated.

Technical Analysis, chart
Chart Types Used In Technical Analysis

Chart type

 The main chart types that technical analysts use are line charts, bar charts, candlestick charts, Renko charts, point-and-figure charts, etc. Charts can also be presented on an arithmetic or logarithmic scale. The types of charts and quantities used to depend on what information the technical analysts consider the most important, and on what charts and to what extent they represent the information.

 Line chart

 Line charts are the most basic form of charts, they are made up of a single line from left to right that combines closing prices. Usually, the closing price is represented by a single point.
This is a popular chart that is used in presentations and reports to give a more general view of historical and current direction.

 It is also an easy way to get a general idea of ​​the direction of price movements in the market, and it is clear, which is preferred by some traders.
Although this type of chart does not provide much insight into intraday price movements, many traders consider closing prices to be more important than open, high or low prices at a given price.

 Bar chart

 A bar chart is one of the basic tools of technical analysis. The bar chart is also called the open-high-low-close (OHLC) chart. It consists of a series of vertical lines that indicate the price range during that time frame.

 The bar chart enables traders to find tables more easily, considering all prices open, high, low, and close. The opening cost is the horizontal dash to the left of the horizontal line and the closing price is located to the right of the line. If the starting price is lower than the closing price, the line is usually black (or green) to represent the growing period. The opposite is true for the falling period, which is shown in red.

 Candlestick chart

 The upper part of the upper shade represents the higher price, while the lower shade represents the lower price. The patterns create both a real body and a shadow. Candle patterns are most useful in short periods and are often of importance at the top of the uptrend or at the bottom of the downtrend, while the patterns often indicate the reversal of trends.

 The wider part of the candle is shown between the opening and closing costs. Security is usually black/red when the security is low/white and green the other way.

 The thinner parts of the candle are usually referred to as upper / lower wicks or shadows. This shows us the highest and/or lowest prices during that period compared to closing and opening rates.
The ties to the candle body are important to the candle patterns. The candlestick chart makes it easy to find the distance between the bodies.

 The slight drawback of the candle table is that the candles take up more space than the OHLC bar. On most charting platforms, the highest candle chart you can display is less than what you can do with a bar chart.

 Renco chart

 Unlike other tables, the Renco chart is a noise-reduction charting technique that focuses only on price movements, completely ignores time, and uses volumes.

 This chart has white/green and black/red bricks. These are placed depending on whether the price has increased compared to the previous brick. If it is done with sufficient values ​​established by the brick size, a new one will be installed. White/green bricks are used when the cost of security increases and black/red bricks are used when they are reduced.

 It is important to mention the fact that a new brick is placed only under certain volatility criteria, resulting in a significant gain or loss of traders. It can be put in minutes or take longer than a day depending on market conditions. On the one hand, this can be beneficial. Especially for traders who want to find an easy way to identify support and resistance, overall trends and filter sounds. On the other hand, fixing it can make market sentiment difficult. Thereby rendering the use of other analytics tools useless.