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Price Charts
One of the key features of technical analysis is the
identification of price patterns. MetaStock provides nine ways to
view price information and these are referred to below.
The most common style of price plot is the bar chart, which
incorporates the open, high, low and closing price of a stock. Line
charts require only closing prices to plot, whereas candlesticks
require all four pieces of pricing information - open, high, low and
close. And as their names imply, equivolume and candlevolume
incorporate volume into the price plot.
Certain line studies (i.e. Cycle Lines, Gann Grids and Fibonacci
Time Zones) plot unevenly on equivolume and candlevolume charts.
This is because the distance between time periods of these charts
varies. The same line studies, when plotted on kagi, point & figure,
renko and three line break charts, also produce results inconsistent
with normal interpretation.
Indicators calculated on kagi, point & figure, renko and three line
break charts use all the data in each column and then display the
average value of the indicator for that column.
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