Types of charts used in technical analysis and how to interpret them

Here is you can use Line Chart, Candlestick Chart, Renko Chart, and Point and Figure charts to your advantage while trading in stocks

Technical charts help traders take an informed decision while making a financial commitment in the markets. They are a graphical representation of historical price, volume, and time intervals. Over the years, several researches have co-related chart with technical tools like moving average, trendlines, and technical indicators.

Types of charts

The main chart types used by most traders are the Line Chart, Candlestick Chart, Renko Chart, and Point and Figure charts. These charts are plotted either on arithmetic or logarithmic scale and the analyst then chooses either depending on the information required.

Line Charts

This form represents price in a line