Bar Chart vs Candle Chart vs P&F Chart vs Line Chart... Which is better? 🤔

<p>Today we deconstruct the different types of charts that can be used in Technical Analysis: the bar chart, the candlestick chart, the Point and Figure (P&amp;F) chart and the line chart. &nbsp;</p> <p><br></p> <p>🚀 &nbsp;Want to see what growth stocks I'm buying? Consider joining the VIP Membership Group (Discord) today! ► https://elblancofinance.com/&nbsp;</p> <p><br></p> <p>Data needed to construct most charts: Open, high, low, close (OHLC), volume &nbsp;Line chart: just connects closing prices, doesn’t put volume (in old day), doesn’t show intraday movements - Closing price is important for funds performance… determines the next day - Used to study long term trends. “The economists’ chart”. More frequent data leads to detailed, &nbsp;cluttered charts making trend less obvious, less frequent data. &nbsp;- Advantage: Easy to construct and maintain. &nbsp;- Disadvantage: Gives little information, exact time or trend change can be unclear. &nbsp;Bar chart: left tick represents open, right tick = close. Usually has volume. &nbsp;Nowadays, tradingview has the colours, but normally they don’t. &nbsp;Best bar charts are OHLC, include the open price. Each interval represented by one bar. Range = difference between high and low. Advantages: HLC can give you a better sense of direction. More versatile, volume usually included. Disadvantage: Harder to maintain and requires more space if done by hand.</p> <p><br></p> <p>Japanese candlesticks : Used in Japan in 16-1700’s. Brought to North America by Steve Nison in 1985. Include HLC, and always Open price. Up-day = white. Down-day = black. &nbsp;Real body: is the rectangular box formed by open and close price. (look like candles) Shadow = just line of the top and bottom of candle. Price extremes of the session. Look like wicks. Advantage: &nbsp;More visual, positive and negative easily seen. Disadvantage: Harder to calculate and maintain by hand, patterns must be studied. &nbsp;</p> <p><br></p> <p>Point and Figure (P&amp;F) chart: ignores time, volume… &nbsp;&nbsp;&nbsp;ON