Comparing Candlestick Charts with Alternative Charting Methods
Knowing a bit about the options that exist outside of candlestick charts serves as a point of reference and makes clear the benefits of using candlestick charts when analyzing price data.
Line charts are simple and straightforward.
Bar charts are important to understand because they’re still relatively prevalent.
Point and figure charts are great for revealing support and resistance levels.
I’m confident that you’ll be a believer in candlesticks when it’s all said and done, but understanding the alternatives is certainly worth your time.
A line chart is a line on a chart that displays security prices over time. A line chart represents the price — usually the closing price — of a security from one period to the next.