Do you include the “beard” when drawing the line, or not?
In line trading, whether to include the wick or not when drawing a line
is a frequently asked question, but
we tell everyonethat the wick should be includedthat the wick should be included.
There have been requests to add a feature to draw lines without the wick,
but we have no plans to add such a feature in the future.
The tip of the wickindicates the highandlow,
while the thick partshows the openandclose.
To draw a line ignoring the wick means
drawing a line against the open and closehowever,
which leads to the following issues.
①
The open and close vary depending on the time frame (the line height changes with time frame) (the line height changes with time frame).
② In daily charts or 4-hour charts,open and close can differ by brokerin some cases
In other words,
drawing lines that ignore the wick and are affected by display environment and time frame is
a minority practiceand tends to be a subjective line that only you can see.
What is important when drawing lines is to consciously align with lines that are recognized worldwide,
and to draw the same ones yourself,
to draw objectively the same line as the majority,
it is better to draw a line that includes the wick, which is less affected by display environment and time frame..
the concept of a “wick” is specific to candlesticks,
and although candlesticks originated in Japan and have become widely used around the world,
in Europe and America, the bar chart is mainstream, so
they say they do not draw lines based on open and close.