Energy Trading Chart Types: Line, Candlestick and Bar
A Energies Trading chart is a graphical representation of energies price movement of a energies instrument over a given period of time.
Drawn on a grid and user is at liberty to choose which energies chart time frame they want to trade with. Energies trader may choose to use hourly charts, daily charts or even 1 minute chart timeframes.
To draw energies charts, three methods are used. The methods used to draw the energies charts defines the type of energies chart.
The three types of energies charts are: - Candlesticks Charts - Bar Charts
- Line charts
- Bar charts
- Candles energies charts - Most popular
Line Chart
A single line is drawn from one closing energies trading price to the next, forming a continuous line.
This type of chart provides very little information on the chart & is therefore not very popular among energies traders. In fact this type of energies chart gets rarely used by traders.
Line Chart in Energies Trading - This type of chart leaves out important data about energies price movement. Information such as opening, high & low point of the energies trading price which aren't represented on the graph.
This makes this type of energies line chart to be considered sketchy by energies technical analysts.
The energies chart below shows example of a energies line chart.
Bar Chart
Energies Trading Bar Charts - This type of chart shows the opening, closing, the high and the low, for a particular energies price interval and is represented by bars that look like the ones drawn below - hence its name bar charts
- Bar Charts - bar chart has a vertical bar showing the total energies trading price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High and low denoted by the highest and lowest point
However, these energies bar charts aren't very easy to work with, especially when they are not magnified. It becomes very hard to interpret the bar charts with ease when trading the energies trading market thus making them not very popular among energies traders.
A Bar chart that is not magnified makes it hard to view the opening & closing energies trading price as illustrated by this example:
Candle Chart
Energies Trading Candlesticks Charts - This is the most widely used type of energies charts, they resemble candles, thus their name - candlesticks charts.
Candlesticks charts shows the opening, closing, high and low of a particular energies trading price interval.
The range between the open energies price and the close energies trading price is called the body of the candlestick.
Energies candles charts is the most popular type of energies charts among online traders because it is easiest to interpret when trading the energies market. Energies Trading candlestick charts also gives a lot of information about the energies price movement. This makes candlesticks charts the most widely used type of charting in Energies.
Energies Trading Candles Charts
Below is example of candlesticks charts. To learn more about energies trading candlesticks charts, read this topic:Technical Analysis of Japanese Energies Candlesticks Patterns in Energies Trading.
How to Select These Energies Trading Chart Types on MT4 Platform
To draw any of these types of energies charts on the MetaTrader 4 Energies Trading Software a trader can use the buttons below found on this MT4 platform.
Drawing Energies Charts on MT4 Software
- To Select a Bar Chart Click the Bar Button
- To Choose a Candlesticks Chart Click the Candlestick Button
- To Select a Line Charts - Click the Line Button
