What are the 3 Types of Commodities Trading Charts
Types of Commodities charts
There are 3 types of charts used in Commodities: Line Commodity Trading Charts, Bar Commodities Trading Charts and Candlesticks Commodity Trading Charts.
Line Charts - plots a continuous line connecting closing commodity prices of a commodity.
Commodity Trading Line Charts - What are the 3 Types of Commodity Trading Charts?
Bar Commodity Trading Charts- displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW & CLOSE. The Opening commodities price is displayed as a horizontal dash on the left and closing commodities price as a horizontal dash on the right.
Commodities Bar Commodities Trading Charts - What are the 3 Types of Commodity Trading Charts?
Candlestick Commodity Trading Charts - these use the same commodities price data as bar commodity charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.
How to Interpret
The rectangle part is called the body.
The high and low are described as shadows and drawn as poking lines.
Commodity Trading Candlesticks Charts - What are the 3 Types of Commodity Trading Charts?
The color of the candlestick is either blue or red
- (Blue or Green Color) - Commodities Prices moved up
- (Red Color) - Commodities Prices moved down
Most commodity platforms like the MetaTrader 4, use colors to mark the direction. colors used are blue or green; when commodities price moves up, red; when commodities price moves down.
