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Which is the best trading chart for Intraday trading
Profit-making and the gambit of gainful investment is a very detailed one with a lot of perspectives that alter one’s approaches. While the list of trading types is extensive, intraday trading has emerged as one of the most easily implementable speculative exercises in recent times. Before making any kind of decision, trading analysis is very important. The trading analysis allows the potential investor to go through available options and understand what works best for him/her. Intraday trading or the practice of trading in a trading instrument once or even multiple times in one day has been extensively used for making reaping short-term benefits. While analyzing the various aspects of intraday trading, one of the most commonly used methods for trading analysis is through trading charts. Various trading charts for intraday trading are used these days. The most commonly used areas mentioned:
Candlestick Chart: These charts give a view of security pricing in the shape of candlesticks, with each candlestick denoting one day of trading. Therefore, a periodic visualization of candlestick charts lists intraday trading days as a series of figurative candlesticks denoting pricing variations and fluctuations.
- Tick Charts: These are the types of trading analysis charts that depict a bar after a particular set of trading figures. In simple terms, a tick chart shows a bar after a pre-decided number of trades during a day. So, some charts may depict a bar after 300 trades while others may show a bar after 500 trades. This gives a pictorial representation of the frequency of trades of a specific security or stock in one day of intraday trading.
- Volume Charts: In the trading analysis, volume charts are used to show the number of trades in intraday trading using line representations of volumes of trading. Two colors – red and green are used to depict the stock pricing variations. The bar color is red if the current closing price is lower than the previous closing pricing and is green if the current closing stock price is higher than the previous closing stock price.
- Renko Charts: For trading analysis, Renko charts (originally developed by Japanese) are used. These charts depict the price variations in intraday trading in brick-like shapes that give a more detailed view of market fluctuations.
While trading analysis is a detailed and dynamic exercise, any investor is always encouraged to use the services of a certified brokerage firm. Tradebulls is a registered firm that offers credible and highly beneficial services for enhancing your fund performance. The team of dedicated analysts and the offered support structure is highly competent and standardized. The highest levels of professional strengths are maintained while ensuring that your stock investment yields optimum dividends and meets your expectations. The best financial practices and leading consultancy services are offered in collaboration with market-experts for your financial benefits.
Intraday Trading charts Types:
- Line Charts
- Bar Charts
- Volume Charts
- Tick Charts
- Points & Figures Charts
- Candlestick Charts
- Renko Charts