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What are the different types of charts available on TradingView?
TradingView offers various types of charts to cater to different trading styles and preferences. Here are the different types of charts available on TradingView:
- Line Chart: A Line chart connects the closing prices of each period with a line. It provides a simple visual representation of price movements over time.
- Candlestick Chart: Candlestick charts are widely used in technical analysis. They display price data in the form of candlestick “bars” that represent the open, high, low, and closing prices for each period. Bullish and bearish candlesticks indicate the direction of price movement.
- Bar Chart: Bar charts display price information using vertical bars. Each bar represents the high, low, opening, and closing prices for a given period. The top of the bar represents the highest price reached, and the bottom represents the lowest price.
- Area Chart: An Area chart is similar to a Line chart, but the area between the line and the x-axis is filled. It provides a visual representation of the price action and can help identify trends and support/resistance levels.
- Heikin Ashi Chart: Heikin Ashi charts are derived from candlestick charts but use modified calculations to generate smoother price action. They help filter out market noise and provide a clearer view of the trend.
- Renko Chart: Renko charts are built based on price movements rather than time. They use fixed price increments to create bricks or blocks on the chart, with each brick representing a specific price movement.
- Point & Figure Chart: Point & Figure charts are primarily used to identify significant price trends and reversals. They use Xs and Os to represent price movement, with Xs indicating uptrends and Os indicating downtrends.
- Kagi Chart: Kagi charts focus on price reversals rather than time. They use a series of vertical lines to represent price movements, and the direction of the lines changes when the price reaches a predetermined reversal threshold.
Range Bars: Range bars are similar to Renko charts, but instead of using fixed price increments, they use fixed price ranges. Each bar represents a specific price range, and new bars are created only when the price moves beyond the predefined range.