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The information on this site is for general information purposes only and does not claim to be comprehensive or provide legal or other advice. It is optional for a trader what chart type to use. Line chart contains price’s closing value at given time. The whole chart also becomes more informative. Candlestick charts are an improved version of bar charts. It is Forex most popular and widely used chart type. And we are going to discover why.
Because of its appearance candlestick delivers more information than any other line or bar method. Candlestick carries HIGH, LOW, OPEN, CLOSE for the price and possess a BODY. A color and size of the body supply traders with additional price details. We are going to learn about different candlesticks later. Now let’s take a general look at Forex candlestick chart:This chart seems more alive and easier to apprehend visually. That’s because a trader can quickly tell where the price went up, where it came down, when the price changed its direction and what happened there. A candlestick chart reveals things that are not visible on other charts.