Business, Legal & Accounting Glossary
A bar chart, also known as a bar graph, is a diagram consisting of rectangular bars. The length of each bar in a bar chart is proportional to the numerical value it represents. The bars in a bar chart may be positioned vertically or horizontally. When a bar chart has vertical bars, it is also called a column chart. Regardless of whether the bars are horizontal or vertical in position, they are always parallel to each other. A bar chart is a graphical tool mainly used to display discrete data and illustrate relative values in a particular data set. A bar chart is especially useful for spotting a trend or a pattern in a given set of data. For example, a bar chart can be used to plot the gross domestic product of a country over a particular time frame. The vertical axis (y-axis) on the bar chart would illustrate the value of GDP while the horizontal axis (x-axis) on the bar chart would indicate the date. The tallest bar in this example bar chart would tell you on which date the country achieve its greatest GDP.
The Bar Chart, also known as OHLC Chart, is a popular style of chart used by technical analysts, on which the open, high, low, and close (OHLC) prices are constructed with the top and bottom of each bar representing the daily high and low prices, respectively, while the left-hand tick representing the opening price, and the right-hand tick representing the closing price.
Bar charts are convenient for an overlay of technical indicators such as moving averages and Bollinger Bands.
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This glossary post was last updated: 25th March, 2020 | 4 Views.