What are the types of chart?

There are several types of charts used in technical analysis to represent and analyze market data. Some of the most commonly used charts are:

Line Chart: This chart is created by connecting the closing prices of a security over a certain period of time with a straight line. This chart is the simplest type of chart and is often used to identify trends and support and resistance levels.

Bar Chart: This chart is created by plotting the high, low, and closing prices of a security over a certain period of time using vertical lines. The top of the line represents the high price, the bottom represents the low price, and the horizontal line represents the closing price. This chart is often used to identify price patterns and trends.

Candlestick Chart: This chart is similar to the bar chart but is more visually appealing and easier to read. It is created by plotting the high, low, opening, and closing prices of a security over a certain period of time using candlestick-shaped bars. The color of the bar indicates whether the closing price was higher (green or white) or lower (red or black) than the opening price.

Point and Figure Chart: This chart is created by plotting only the price changes of a security, without regard to time. It uses X`s and O`s to represent price movements and is often used to identify support and resistance levels.

Renko Chart: This chart is similar to the point and figure chart but uses bricks instead of X`s and O`s to represent price movements. The bricks are only added to the chart when the price moves by a certain amount, ignoring time.

These are just a few of the many types of charts used in technical analysis. The choice of chart depends on the preferences and needs of the individual trader or investor.