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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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