OHLC Chart Type

An OHLC Chart (Open, High, Low, Close) is a bar chart type that provides detailed information about price movements within a selected time frame. Each bar represents the open, high, low, and close prices, making it a valuable tool for traders who want to analyze price action with more structure and simplicity than candlestick charts.

How to Access the OHLC Chart:

1. On the top bar of the platform, click on the Chart Type option.
2. From the dropdown menu, select OHLC (Bar Chart).

Features of OHLC Charts:

1. Bar Representation:

   • Each time interval (such as a minute, hour, or day) is represented by a vertical bar:
     • The left tick indicates the opening price.
     • The right tick shows the closing price.
     • The top of the vertical bar is the highest price.
     • The bottom of the vertical bar is the lowest price.

2. Simple Price Action Visualization:

   • OHLC charts offer a simple, clear representation of price action without the visual complexity of candlesticks. Each bar provides a quick snapshot of how the price behaved during the chosen time frame.

3. Color Coding:

   • The bars can be color-coded:
     • Green/White Bars: Indicate that the closing price is higher than the opening price (bullish).
     • Red/Black Bars: Indicate that the closing price is lower than the opening price (bearish).
   • This color distinction makes it easy to quickly identify bullish and bearish sessions.

4. Customization Options:

   • You can adjust the colors, thickness, and style of the OHLC bars to match your visual preferences.
   • The chart can also be tailored to show different time frames, from short-term intervals (e.g., 1 minute) to longer-term periods (e.g., daily or weekly).

5. Trend Analysis:

   • OHLC charts are effective for identifying trends, as the highs and lows of the bars provide clear indications of market direction.
   • You can easily spot patterns like higher highs and higher lows (indicating an uptrend) or lower highs and lower lows (indicating a downtrend).

6. Precision:

   • Compared to candlestick charts, OHLC charts emphasize exact price points, making it easier to spot key levels of support and resistance based on open, high, low, and close prices.

Use Cases:

• Trend and Momentum Tracking: OHLC charts are often used by traders who want to follow trends and price momentum while having a clear view of price levels.
• Volatility Analysis: The range between the high and low prices gives a sense of market volatility during each time frame.
• Support and Resistance Identification: By examining the high and low prices, traders can pinpoint important support and resistance levels.

The OHLC Chart type is ideal for traders who value precise price information and want a clear, structured view of market movements. It’s especially useful for identifying trends, price ranges, and key turning points in the market.