Tron Fan Club | Price Bars, How to include these Price bars on a Chart and how to identify trends with the bars

Image edited on Canva

Hello to everyone here in this great community known as the Tron Fan Club I welcome you all to a great week, hope your weekend went well. today I will be talking about an important aspect of the trading chart which I called the price bar. many newbies who are crypto traders may not be familiar with the word price bar, and it is also important to know how to include the price bars on a chart. so today, I will be explaining what price bars mean and also demonstrating the basic steps on how to include the price bars. so relax and I wish you happy reading.

WHAT ARE PRICE BARS?

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When we are talking about the digital currency world, there are many methods alongside various tools that show the behavior of the crypto market. the need for these methods and tools is to tell us the activity of the crypto market and the people present in the market at that particular period, this is to make sure of certain processes which are, such as proper entry and exit positions are determined in other not to get to the bad side of our crypto trade in the market. and for this reason, the Price Bar is then included in the Chart. so we will be looking at the Price Bar as we move further.

Just like other tools, the Price bar is also a tool located on the chart. it works to show cryptocurrency traders the action of cryptocurrencies' price regarding the market. so today our main focus is to know how to identify market movement using the price bar, with this we can then get a clear picture of what the market is doing at a given time using this method.

Just like the candlestick, the price bar also demonstrates the trend of the market. it also has several; segments and they are four in number. we will also be talking about them shortly.

Each of these segments possesses its special attribute, although they are all used to detect the happening in the market it is done according to the way they were designed to work in. they help crypto traders to know what is going on in the market. another interesting part of these bars is that they can be merged to have a solid view of what the market is doing, and also to predict what might be the next movement of the market.

The following are the four segments of the price bar.

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1- THE HIGH

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When we talk about the high point located on the price bar, it depicts the highest price which a crypto token price has reached in that specific period. and the high can be located at the upper point of the vertical price bar line.

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2- THE CLOSE

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Talking about the close point, This is the point at which the price of the crypto token is attaining a low-value point at that specific period. and it is found beneath the high point and it is the small horizontal line that is almost at the end of the vertical line.

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3 - THE OPEN

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When we talk about the open, it signifies the point where the crypto tokens just begin to display a new price value at a specific time, and it is seen beneath the vertical line and the close point.

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4 - THE LOW

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Now the low point is the least value that a cryptocurrency asset has arrived at a specific point in time. and the low is located beneath the vertical line of the price bar.

HOW TO INCLUDE THE PRICE BARS ON A CHART

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After understanding the basic concept of the price bars and also its segments. now it is time to know how to make use of the price bars in an effective way. I will be outlining basic steps that can assist as a guide to help us include the price bar on a chart and they are as follows.

• Step one - The first step is to go to your Tradingview after you have logged in, then select your preferred digital token after that you will notice a chart on your screen, on that chart at the upper spot select the Candles option given and then click.

screenshot from Tradingview

• Step two - After the above is done, we then quickly select the Barks option by clicking on it twice in other for it to be displayed on the chart.

screenshot from Tradingview

• Step three - After all the above are executed we now rest assured that the price bar has been included on the chart successfully and as seen in the below screenshot the Price Bar is displayed.

screenshot from Tradingview

HOW TO IDENTIFY TRENDS WITH THE PRICE BARS

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With the help of the price bars, it is so simple to identify trends because the state of the price bar is regulated by the individuals in the market which comprises both the individuals selling and the ones buying.

I will be explaining how to use the price bars to identify both trends, which are the uptrend and downtrend.

UPTREND IDENTIFICATION

We can sure identify an uptrend movement in a situation where we notice the Price bars representing higher highs in price than lows of assets value in a given market. it is often seen in cases in which in just an interval of one or two days, we can notice the price bars to represent either two or three higher highs in price which is higher than the last highs. in such a situation, we can then say the market is on a bullish trend which thus indicates that buyers taking over the market situation.

DOWNTREND IDENTIFICATION

In identifying a downtrend, is a situation in which the price of an asset is getting lower than the last point, in other identify a downtrend, when the price bars represent lower lows more than highs in asset price, and this is seen mostly within one day or two days, we noticed the price bars to indicate either two or three lows in market price. with such a scenario we can then say that a bearish market trend is ongoing. that is people selling crypto assets are dominating the market.

CONCLUSION

The Price Bar is indeed a great tool that assists users, especially cryptocurrency traders to what is happening in the market, who are the people dominating the market, and also shows us the current condition and behavior of the market. it also depicts the level of assets purchased in the market.

It also possesses four basic parts and these are The High, The Close, The Open, and The Low. they all have their specific attributes. and when they are merged, will showcase a clear view of the market condition. this will also tell us how well an asset is either bought or sold, it also helps in identifying a market trend.

Including the price bar in our chart is very important, all the above mentioned would not have been possible without the price bar, so it is important and recommended to include the price bar to see the behavior of the market before executing our trade. that will be all for today, see you again in my next publication.