Chart pattern is graphical presentations of price information of securities over time. They plot historical data based on a combination of price, volume as well as a time interval.
For example, line, bar, candlestick chart patterns are the major ones.
The line chart is the most basic type of chart. Because it is formed by employing only one data point (the close price).
Only the closing price is plotted to draw a line chart for various time frames. Therefore the line chart has very little significance in TA as it only shows only the closing price. But the line chart is simple and one can easily identify the trend.
As it ignore open, high, low, and only consider close price, thus traders prefer not to use the line charts.
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