Why Candlestick chart is mostly Popular to traders
If you just go through different trading website you will obviously found Japanese Candlestick chart. So, its a matter of thinking that why this one is mostly used. I have tried to give some reason here. You can add any in the comment section.
Japanese candlestick chart is not only showing the opening and closing price but also at the same time it is showing the high and low for a specific interval of the time which is an important data for a trader.
It is not only helpful for the short-term traders but also it can help the long-term traders. In trending chart like line chart, what information we are getting, is also possible to get such kind of information of trend from the candle chart because candle chart is also showing the pattern of price change for a longer period of time even. Its showing even elaborates data of trend through candles. And it's very helpful for the short time traders who just want to trade in a very short period of time and within this short period of time they can analyse their high and low price with the open and close price.
Source: Image by MLbay from Pixabay
From that sense, we can see the maximum purpose of the trader’s information for technical analysis is served with this single chart. If anyone have the idea about candles, its open close high low-price indication, then this chart is not complex for any traders. It should be as simple as the line chart to the traders who understand this chart basic anatomy. For this reason, I think this chart is the first choice of the traders and I appreciate of the developers of this chart as it is giving us a greater picture while trading and helping a lot in trading.
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