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Chart Types

To change the chart type in the views toolbar click the chart type drop down menu like this:

The PhoenixAI software uses chart types which can be roughly divided into the following categories:

* Plain
* S
ummary 
*
Common base

Plain charts (Candlestick, OHLC, HLC & Line) display exact price data.

Candlesticks provide a complete picture of what has happened to a security during a given period (i.e. daily, weekly or monthly).

A candlestick chart is the default chart type

 

The box that makes up the difference between the open and the close is called the body of the candlestick.

A red or solid candlestick means that the closing price was lower than the opening price - a "down" candle.

An empty or green candlestick means that the closing price was higher than the opening price - an "up" candle.

The thin lines at the top and the bottom of the candlestick represent the highest and lowest price reached during the time interval the chart is based on.


OHLC charts show Open, High, Low and Closing price data.

Appearance aside, OHLC charts work the same as the Candlestick format

 

 

The small tick on the left-hand side of the vertical line represents the open, the tick on the right hand side of the line is the close, the top is the high and the bottom is the low.

Like candlesticks, the OHLC bars are different colours depending on whether the open is higher or lower than the close.  Unlike candlesticks, the bars on an OHLC chart can all be the same colour and still be easily interpreted.


HLC charts display High, Low and Closing price data.


A stripped-down version of the OHLC format, HLC charts don't bother with opening price data. Otherwise, they function the same as OHLC charts.


Line charts display a line connecting the closing price of a security. They do not show opening price, nor do they show price movement on a given day.

Summary Charts (Bar, Point & Figure, TLB, Kagi (CPL) & Swing)

Bar charts indicate when the price range has moved up or down. It also indicates when the price range has increased beyond or shrunk inside the previous days price range through the use of colour coded bars.

 

 


Point and Figure charts show price movement regardless of the passage of time. Price movement and reversals are shown as columns of X's and O's. The X columns represent rising prices, the O columns falling prices.



A new column is added whenever the price trend changes according to user specified reversal criteria.

Each X or 0 represents a realised price change of a certain user specified amount, which can be set on the Chart tool bar.

 

In the above example, a column change is made only when the price change matches the given criteria. Although this is a daily chart, you can see that the columns change sporadically - the last two columns representing a change in November and again in February. This highlights how the passage of time is irrelevant to a Point and Figure chart.


TLB or Three Line Break charts are similar in concept to point and figure charts. The decision criteria for determining "reversals" are somewhat different. Each new line, like the X's and O's of a point and figure chart, occupies a new column. Using closing prices (or highs and lows), a new rising line is drawn if the previous high is exceeded.
A new falling line is drawn if the price hits a new low.


Kagi or CPL (Cycle Price Line) charts display rising and falling vertical lines to indicate price movement. The lines are usually displayed as thick or thin depending on price movement, direction and the point at which prices penetrate a previous high or low. However for readability, they are displayed here using colour. Green represents thick lines and red represents thin lines.

 

As price continues to move in the same direction (up or down) a vertical line is created. If price reverses by a certain amount (set on the Chart tool bar) a new line is drawn. When prices penetrate the previous high or low the colour of the Kagi line changes. Red for penetration of a previous low, green for penetration of a previous high.

 


Swing charts only show a change when the stock price moves more than a percentage of your choice.

Common Base charts provide a constant frame of reference for comparison of two or more securities.

See the Overlays section for more information on Common Base charts.

 

Related Topics:
Charts
Overlays