Like the markets, technical analysis evolves. This article details the construction and use of bar-chart types beginning with a short review of older forms — bar charts, candlesticks and Equivolume — and a presentation of two new forms, flagbars and timebars. The market is a profit-and-loss drama; rewards await for those who read it right, and penalties for those who read it wrong. Mastering various techniques is key, and the first step is to be familiar with charting forms — learn what they do and use them to fit a need. Charts and their specific forms graphically represent the activity taking place in the markets. By studying chart patterns, investors and traders identify formations that can become the basis for their buy-and-sell systems. In the real world, there is no ideal bar form. Different types of charting offer varying measures to understanding pattern formations. This article peruses the old, discusses the new and includes the following types: The old: • Bar charts • Candlesticks • Equivolume charts The new: • Flagbar charts • Timebar charts |
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