The Smith chart is a graphical tool used to analyze high frequency circuits. It represents all possible complex impedances in terms of the reflection coefficient. Circles of constant resistance and arcs of constant reactance intersect on the chart to indicate impedance values. The chart allows users to determine impedances, reflection coefficients, voltage standing wave ratios and other transmission line parameters through graphical techniques. It remains a popular tool decades after its original conception due to providing a clever way to visualize complex impedance functions.