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Today in this article I am going to discuss the Line chart. The Line chart is the basic representation of the price and the commodity. If you have ever studied Macroeconomics you must have heard or studied about the Line chart where you used to get the data in the form of the X-axis and Y-axis. In this article, we will explore everything about the Line chart and you can place trades on Expert Option effectively with the same.
What is Line Chart?
The Line chart is a type of chart that displays a virtual representation of data using points connected in a straight line. This chart is a basic chart that can be used to understand any financial data.
A line chart can be either straight or curved based on the inputs of the data. Traders, investors and financial officers use the line chart to predict the high and low in the market for a particular value since it is very easy to understand and displays a clear visualisation of the price.
Given above, is an example of a line chart. which displays the growth of the three products in the X axis is Product A, Product B, and Product C whereas in the Y axis is the months. We can clearly understand from the above chart that Product B has improved the most whereas Product C is second and Product A has improved the least.
How to insert a Line chart on Expert Option?
Naturally, you need to first log in to your Expert Option account. In case you don’t have one click here. Once you have logged in click on the chart button at the top of the page and search and select the Line chart from the menu.
If you want to change the period of the chart just click on the currency button and select your desired currency plus the period of the chart.
How to trade with Line chart on Expert Option?
You can’t solely rely on the trading signals generated by the Line chart. you should definitely use a trend indicator like RSI or Parabolic SAR. In this article, I am going to use Exponential moving average which will give you great signals and the combination of the Exponential moving average and Line chart is really easy to use.
Firstly, click on the indicator button from the top of the page and select moving average from the menu. Next, select the type as EMA and set the period of the moving average to 10.
Now, you need to look for the signals. When the line chart and EMA line intersect each other and the Line chart is below the EMA line it signals a bearish trend. and you can consider placing a sell trade here.
Vice versa, When the line chart and EMA line intersect each other and the Line chart is above the EMA line it signals a bullish trend. and you can consider placing a buy trade here.
Try Line Chart on Expert Option for free. Join Expert Option Now.