The tastyworks desktop and iPad platforms offer several different chart styles you can toggle between via chart settings header.
A bar chart will display the open, high, low, and close in each bar, which is dependent on the chosen time aggregation. Each bar shows one of three colors: green, red, or grey. The color of the bar is dependent on the close of the previous bar. The height of the line indicates the high and low of the time. As the left horizontal line shows the opening price and the right horizontal line shows the closing price.
- Green bar: The closing price is higher than the previous bar.
- Red bar: The closing price is lower than the previous bar.
- Grey bar: The closing price is equal to the previous bar.
A candle chart is similar to a bar chart in that it displays an opening, high, low, and closing price of a chosen time aggregation. Unlike a bar chart, it also shows market sentiment, namely bullishness or bearishness. Each candle displays in one of three colors and indicates sentiment.
- Green candle: The closing price is higher than the opening price, which indicates a bullish sentiment.
- Red candle: The closing price is lower than the opening price, which indicates a bearishness sentiment.
- Grey candle: The closing price equals the opening price, which indicates no change in price.
What is the difference between a Line and Area Chart?
Both chart types display the close price in a clear and straightforward form. However, the area chart shades the area below the line. Both are good ways to look at the big picture when viewing an underlying over a more extended timeframe.
The Heikin-Ashi chart type uses the open and close data from the previous time period and the open-high-low-close data from the current time period to generate a candlestick. The Heikin-Ashi candlestick is green when the close is above the open, inversely, it will be red when the close is below the open.
HLC Bar Chart
The HLC Bar chart type presents data as a sequence of vertical lines showing the High, Low, and Close (does not include the open price). Each bar is either green or red, depending on the current time interval's close price relative to the previous close. If the close price is greater than the previous close price then the bar is green. On the flip side, if the close price is less than the previous close, the bar is red. A short horizontal bar lies perpendicular to the vertical line and shows where the underlying closed for that time period.