this mode is used when current symbol uses price fixing and only close
price is available
traditional bar chart
this mode is used when continuous trading is enabled, but open price is
not available (or equals to close price)
this mode is used when continuous trading is enabled with
A line chart is the
simplest type of chart. One price (close) is plotted for each time period.
A single line connects each of these price points. The main strength of
this chart type is simplicity.
Bar charts are one of the
most popular types of charts used in technical analysis. For each trading
day a vertical line is plotted. The top of the vertical line indicates the
highest price a security traded at during the day, and the bottom
represents the lowest price. The closing price is displayed by the mark on
the right side of the bar and opening prices are shown on the left side of
Developed by the Japanese
in the 1600's, candlestick charts are merely bar charts that extenuate the
relationship between open, high, low and closing prices. Each candlestick
represents one period of data (day-week) and consists of an upper shadow,
lower shadow and the body. The upper shadow is the highest price that the
stock traded at for the period while the lower shadow represents the
lowest price. The candlestick body is black when the close is less than
the open or white when the close is greater than the open. The top of the
body is the opening price if the candle is black and the candle is
referred to as a long black candle. If the candle is white, the top of the
body is the closing price and the candle is referred to as a long white
Steven Nison's articles
that explain Candlestick charting appeared in the December, 1989 and
April, 1990 issues of Futures Magazine. The definitive book on the subject
is Japanese Candlestick Charting Techniques also by Steve Nison.
There are many different
candlestick formations. Some are considered to be minor formations while
others are major. Candlestick charts dramatically illustrate supply/demand
concepts defined by classical technical analysis theories.
Gravestone Doji: A
doji (open and close are the same) and the high is significantly higher
than the open, high and closing prices. This formation typically occurs at
the bottom of a trend and signals a bullish reversal.
Dragon-fly Doji: A
doji (open and close are the same) and the low is significantly lower than
the open, high and closing prices. This formation typically occurs at the
top of a trend and signals a bearish reversal.
Abandoned Baby Doji: A doji, which occurs at the bottom of a chart
formation with gaps on both sides of the doji.
Harami Cross: This
formation signals a market top. It consists of a harami, which is a long
black line candlestick which precedes and engulfs a doji with no body.
Engulfing Pattern: A
two-candle bullish formation consisting of a small long black line
engulfed by the second candle, a long white line.
Evening Star: A
bearish pattern usually occurring at a top. The formation consists of
three candles. The first is a long white line followed by a star and then
a long black line. The star can be either black or white.
Dark Cloud Cover: A
two candle formation whereby the first candle is a long white line and the
second candle is a long black line whose body is below the center of the
first candle. This is a bearish formation.