This is the simplest form of chart available to the technical analyst with time presented along the X-axis and price on the Y-axis. The actual time function that you plot will depend on your position in the market - a market maker will be interested in price fluctuations on a minute-by-minute basis, whilst the average investor will only be interested in a price on a daily or even weekly basis. Any price may be plotted on a line chart, but the most common is the closing, mid-price.
Example
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The largest benefit to the analyst of drawing line charts are their simplicity. They present an uncluttered picture of price movements and are very easy to understand.
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