The straight line or the curved line in a trendline excel chart that indicates the pattern or the direction of the data series. Trend line can be added to the following charts only: stacked chart, 2-D Chart, Area Chart, Bar Chart, Column Chart, Line Chart, Stock Chart, Scatter or Bubble Chart. You can even add more than one trend line in a chart. The default option selected when you insert Trend line is Linear Trendline Excel.
If we want to guess the trend of our data we will use the Trend Line. Trend line is a bit similar to Line Chart. Trend line cannot be added to this charts: 3-D charts, Radar Charts, Pie Charts or Doughnut Charts. You can also use the trend line to predict the future values. Microsoft provides you with six options of trend lines: Linear Trend line, Logarithmic Trend line, Polynomial Trend line, Power Trend line, Exponential Trend line, Moving Average Trend line.
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|Tip: If the Chart has more than one data series, Excel displays an Add Trend line dialog box. Select the data series for which you want the Trendline Excel and Click on OK.|
The advantage of trendline excel is that it is inexpensive and simple. If you have historical data you can easily calculate the Trend line for the data.The disadvantage of Trendline Excel is that it is not always accurate.Trend line is added only after you have inserted chart in Excel. After a chart is inserted steps to add trend line are as follow:
Step 1: Click inside the Chart. Click on the “+” Plus sign to the left side of the chart.
Step 2: Chart element Dialog pops up. Click on the Trend line arrow > Click on More options
Step 3: The Format Trendline Pane appears.
1. Choose the Trending Options as Linear.
2. Specify the number of periods[Month] to 2
3. Put a check on Display equation on chart
4. Put a check on Display R-squared value on chart.
Step 4: You see the chart with a Trendline Excel inserted in it.
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