Different Types of Charts
Types of Charts
There are 3 types of charts: Line chart, bar chart & candlestick chart.
Candles Charts - Types of Candlesticks Charts in Gold Trading - the candlesticks charts use the same price info as bar charts (open, high, low, & close). However, they represent the charts in a more easily identifiable way which resembles a candlestick with wicks on both ends.
How Do I Trade Candles Charts
The rectangle part of the candlestick is called the body.
The high and low are referered to as shadows and are drawn as poking lines.
Various Types of Charts - Types of Charts and How to Read Them - Types of Candle Chart
The colour of the trading candlestick is either blue or red
- (Blue or Green Color candle-stick) - price moved upward
- (Red Color candle-stick) - price moved downward
Most trading softwaresplatforms like the MetaTrader 4 software, use colours to mark the direction of the price. Colours used are blue or green: - green candle stick when price moves upwards, red candle when the price moves downward.
Line Charts in Gold Trading
A line chart in Gold draws the closing price of gold and connects this closing price to the closing price of the next period therefore forming a continuous line chart which plots 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 - Types of Line Chart - Types of Line Chart in Gold Trading
Bar Chart in Gold Trading
Bar Charts are charts representation of the price displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW & CLOSE. The Opening price is shown as a horizontal dash to the left & the closing price is illustrated as a horizontal dash to the right.
Various Types of Charts - Types of Charts PDF - Different Types of Charts - How Do I Trade Charts
Study More Tutorials:
- Where Can You Find MetaTrader 4 Gold Symbols Listing?
- How to Trade Different Types of XAU USD Charts
- How Do You Choose a XAU USD Broker for Nano Account?
- How to Place Moving Average XAU/USD Indicator on Trading Chart in MT4 Platform
- Example of How to Generate Signals with This XAU USD Strategy
- MT5 Gator Oscillator Technical Indicator for MT5 Gold Platform
- How to Read XAU/USD MT4 Charts Beginners Guide
- Trading with Short term & Long term XAUUSD MAs XAUUSD Strategies
- Gold Tips for Improving Gold Results
- How to Use MT4 Gold Software Tutorial Course
