There are 4 types of price charts in Olymp Trade:
1. Area chart
2. Japanese candlestick chart
3. Heiken Ashi chart
4. Bar chart.

Each type of chart is suitable for different strategies. To make your strategy highly effective, you need to choose the right chart in Olymp Trade.



Area chart

Area charts are linear charts which means that the price movements are represented by the simple line. However, it helps you determine where the support and resistance zone is. It will be suitable if you like simplicity and do not care about price behavior that can be shown in candlestick chart.

You can use this chart combine with Bollinger Bands for long time frame. When price goes steadily and creates straight line, Bollinger Bands shrinks, it is a sign for the appearance of a support or resistance zone. If Bollinger Band enlarges and price goes beyond the support or resistance zone, it’s time you should prepare to buy a suitable in long time. Set the time for which your forecast from 5 minutes or more.


                                                Japanese candlesticks

This particular type of chart is the most widely used nowadays. Candlesticks carry information about changes in the price over a specified time frame. The body and wicks form a candlestick.

If you like to analyse price’s behavior, and buy Fixed Time Trade based on the color of candlesticks; or focus on candlestick signs of reversal, then this chart is for you.

There are a lot of indicators that can be used in combination with Japanese candlestick chart because many traders prefer using this type of chart. I personally use this chart for most of my  strategies.

The body range tells us about the opening price (O) and the closing price (C). The wick on the top of the candle shows the highest price (H) and the one on the bottom indicates the lowest price (L).

The candlestick is colored green in case the price of the asset is going up. When it is going down, the candlestick will be red.

A ten-minute candlestick shows how the price is changing during a 10 minute period.




Why are Japanese Candlesticks the most commonly used?

Candlesticks are the most popular chart type used to analyze today’s market situation. Why do professionals like them so much? First of all, they are very easy to use. The other reason is the amount of information they contain. They give a general overview of the situation and that is the reason they can be meaningful and useful without adding any indicators.

Bars

The basic rules of their construction are the same as in the case of Japanese candlesticks. This chart type is formed by a vertical line and two short perpendicular lines to the left and the right. The short lines give us the information about the opening and closing prices while a vertical line about the highest and the lowest ones. Bars contain the same set of price data but visually they are not so suggestive.

Not many people use and understand this type of chart because the application and indicators for this type of chart are very limited. However, this is a simple chart which provides you information such as opening price and closing price. The bar chart is visualized and you are able to use indicators in combination with bar chart.


Heiken Ashi

Another chart type available on the Olymp Trade platform is Heiken Ashi. Take a look at the picture below and guess what it is.


Heiken Ashi is a chart that indicates trends in long term. Traders who use Heiken Ashi are those who prefer long time frame Fixed Time Trade. When using Heiken Ashi, traders just care about the color of candles: Red means downward trend, Green means upward trend.
If you like long time frame, this chart is for you. You just need to estimate the trend correctly and earn profit.

If you are not familiar with Heiken Ashi and you will see the chart you will probably mistakenly guess that it is a candlestick chart. It actually looks like a candlestick chart. What can grasp your attention is the fact that there are usually more the same colored candles in the row. In other words, the color of the candles doesn’t change that often like on the candlestick chart. The reason for that is Heiken Ashi candles are made not from pure prices (OHLC) but from calculations made using prices. 

There are many ways to succeed in Olymp Trade as long as you have right strategies and a cool head. A suitable chart can be useful to control your strategy as well as emotion.

If you are interested in long time frame, line chart and Heiken Ashi chart are good choices.

If you prefer short time frame, you should use japanese candlestick chart or bar chart.