Line Charts: It is the simplest form of a chart. A line chart has timeline data horizontally with price data vertically. The line chart is formed by connecting the closing prices. The chart can be viewed on a daily, weekly, monthly even hourly basis too. The line chart doesn’t reflect the open, high, and low data which is major for analysis.
Bar Charts: This chart figures out high, low, open, and close data. When the open is above the day’s close it is differentiated with green color and when the open is below the day’s close it is shown by red color. Bar chart helps in knowing the trading ranges as it indicates high and low
Candle Charts: While in a bar chart the open and the close prices are shown by a tick on the left and the right sides of the bar respectively, however in a candlestick the open and close prices are displayed by a rectangular body. Candlesticks allow traders to visualize buying and selling pressure in two ways. Firstly, the size of the body indicates the intensity of buying or selling. The longer the body, the more price moved over the time period of that candlestick. A short body means that the opening and closing prices were very similar, meaning that there was not much strength to price action. Secondly, the size of the wick relative to the body is important. A candle with a short or no wick means that price action was strong into the close and either buyer, represented with a green candlestick, or sellers, represented with a red candlestick, were in control for the entire time period.