TradingView supports multiple chart types, each with unique characteristics and advantages, suitable for different analysis needs.
Main Chart Types:
1. Line Chart
- Features: Shows only closing prices connected by a line
- Uses: Viewing long-term trends, filtering short-term volatility
- Advantages: Simple and clear, suitable for large timeframe analysis
- Limitations: Lacks open, high, and low price information
2. Bar Chart
- Features: Displays four prices: open, high, low, and close
- Uses: Detailed price analysis
- Advantages: Contains complete price information
- Limitations: Less visually intuitive than candlestick charts
3. Candlestick Chart
- Features: Uses bodies and wicks to represent price movements
- Body: Area between open and close prices
- Wicks: Extensions to high and low prices
- Bullish candle (green/white): Close higher than open
- Bearish candle (red/black): Close lower than open
- Uses: Most commonly used chart type in technical analysis
- Advantages: Intuitively displays price movements and sentiment
- Common Patterns: Hammer, engulfing pattern, doji, etc.
4. Area Chart
- Features: Fills color below the line chart
- Uses: Emphasizes price change magnitude
- Advantages: Good visual effect, suitable for showing trend strength
- Limitations: May obscure other indicators
5. Baseline Chart
- Features: Each point represents a fixed price change
- Uses: Filter small fluctuations, focus on significant price movements
- Advantages: Reduces noise, highlights trends
- Settings: Can adjust baseline size (e.g., 10 basis points, 100 basis points)
6. Line Break Chart
- Features: Only draws when price changes exceed specified value
- Uses: Identify key price levels
- Advantages: Clearly displays support and resistance levels
- Limitations: May miss some price information
7. Renko Chart
- Features: Draws new bricks when price moves a fixed amount
- Uses: Filter noise, identify trends
- Advantages: Time-independent, purely price-driven
- Limitations: May miss rapid reversals
8. Kagi Chart
- Features: Draws lines based on price direction changes
- Uses: Identify trend reversals
- Advantages: Clearly shows trend changes
- Limitations: Requires some learning curve
9. Point and Figure Chart
- Features: Uses X and O to represent price rises and falls
- Uses: Long-term trend analysis
- Advantages: Time-independent, focuses on price movements
- Limitations: Not suitable for short-term trading
10. Heikin Ashi
- Features: Modified candlestick chart using average prices
- Uses: Smooth price volatility, identify trends
- Advantages: Reduces false signals, clearer trends
- Limitations: Prices differ from actual prices
Chart Type Selection Guide:
Choose by Trading Style:
- Day Trading: Candlestick, Baseline
- Swing Trading: Candlestick, Line Break
- Long-term Investing: Line, Point and Figure
Choose by Analysis Purpose:
- Trend Analysis: Line, Heikin Ashi
- Price Action: Candlestick, Bar
- Support/Resistance: Line Break, Renko
Choose by Market Environment:
- Ranging Market: Candlestick, Baseline
- Trending Market: Heikin Ashi, Line
- High Volatility Market: Renko, Point and Figure
Custom Chart Settings:
1. Timeframes
- Minute level: 1 minute, 5 minutes, 15 minutes
- Hour level: 1 hour, 4 hours
- Day level: Daily, Weekly, Monthly
- Custom timeframes available
2. Chart Styles
- Color themes: Dark, Light
- Candlestick colors: Custom bullish/bearish colors
- Background colors: Personalized settings
3. Chart Tools
- Drawing tools: Trendlines, support/resistance lines, Fibonacci, etc.
- Annotation tools: Text, arrows, shapes
- Measurement tools: Price measurement, time measurement
Best Practices:
1. Multi-Timeframe Analysis
- Use multiple timeframes to confirm trends
- Large timeframe determines direction, small timeframe finds entry points
- Example: Daily for trend, 4H for entry
2. Chart Type Combination
- Primary chart: Candlestick for detailed analysis
- Secondary chart: Heikin Ashi for trend confirmation
- Reference chart: Line for long-term trends
3. Keep It Simple
- Don't use too many chart types
- Choose 1-2 types that suit you best
- Focus on mastering one chart type
4. Regular Evaluation
- Regularly review if chart choices are appropriate
- Adjust chart types based on trading strategy
- Maintain flexibility and adaptability