Candlestick charts originated in Japan over years before the West developed the bar and point-and-figure charts. In the s, a Japanese man named Homma discovered that, while there was a link between price and the supply and demand of rice, the markets were strongly influenced by the emotions of traders.
Candlesticks show that emotion by visually representing the size of price moves with different colors. Traders use the candlesticks to make trading decisions based on regularly occurring patterns that help forecast the short-term direction of the price. Just like a bar chart, a daily candlestick shows the market's open, high, low, and close price for the day.
The candlestick has a wide part, which is called the "real body. This real body represents the price range between the open and close of that day's trading. When the real body is filled in or black, it means the close was lower than the open. If the real body is empty, it means the close was higher than the open. Traders can alter these colors in their trading platform.
For example, a down candle is often shaded red instead of black, and up candles are often shaded green instead of white. Just above and below the real body are the " shadows " or "wicks.
If the upper shadow on a down candle is short, it indicates that the open that day was near the high of the day. A short upper shadow on an up day dictates that the close was near the high. The relationship between the days open, high, low, and close determines the look of the daily candlestick. Real bodies can be long or short and black or white.
Shadows can be long or short. Bar charts and candlestick charts show the same information, just in a different way. Candlestick charts are more visual, due to the color coding of the price bars and thicker real bodies, which are better at highlighting the difference between the open and the close.
The above chart shows the same exchange-traded fund ETF over the same time period. The lower chart uses colored bars, while the upper uses colored candlesticks. Some traders prefer to see the thickness of the real bodies, while others prefer the clean look of bar charts. Candlesticks are created by up and down movements in the price. While these price movements sometimes appear random, at other times they form patterns that traders use for analysis or trading purposes.
There are many candlestick patterns. Here is a sampling to get you started. Patterns are separated into bullish and bearish. Bullish patterns indicate that the price is likely to rise, while bearish patterns indicate that the price is likely to fall. No pattern works all the time, as candlestick patterns represent tendencies in price movement, not guarantees. This action is reflected by a long red real body engulfing a small green real body. The pattern indicates that sellers are back in control and that the price could continue to decline.
This is reflected in the chart by a long green real body engulfing a small red real body. With bulls having established some control, the price could head higher. This means the close price is below the open price. The price difference between the top and bottom of the thin line shows how volatile the price was in that time frame.
Tall lines indicate that the price has been very volatile. Short lines imply that the price was relatively stable moving in one direction during that time frame. On stock charts, additional bars below the candlesticks represent the total number of shares traded during the time period for that candlestick. Investors use this to understand the interest in a stock. Getting Started. Frequently Asked Questions. Cash Management.
General Questions. Note that on IE8, this option is ignored; all IE8 charts are drawn in i-frames. An object with members to configure various horizontal axis elements. To specify properties of this object, you can use object literal notation, as shown here:. This option is only supported for a continuous axis.
The color of the baseline for the horizontal axis. Can be any HTML color string, for example: 'red' or ' 00cc00'. The direction in which the values along the horizontal axis grow. Specify -1 to reverse the order of the values. For number axis labels, this is a subset of the decimal formatting ICU pattern set.
You can also supply any of the following:. For date axis labels, this is a subset of the date formatting ICU pattern set. The actual formatting applied to the label is derived from the locale the API has been loaded with. For more details, see loading charts with a specific locale.
In computing tick values and gridlines, several alternative combinations of all the relevant gridline options will be considered and alternatives will be rejected if the formatted tick labels would be duplicated or overlap. So you can specify format:" " if you want to only show integer tick values, but be aware that if no alternative satisfies this condition, no gridlines or ticks will be shown.
An object with properties to configure the gridlines on the horizontal axis. Note that horizontal axis gridlines are drawn vertically. The color of the horizontal gridlines inside the chart area.
Specify a valid HTML color string. The approximate number of horizontal gridlines inside the chart area. If you specify a positive number for gridlines. You can specify a value of 1 to only draw one gridline, or 0 to draw no gridlines.
Specify -1, which is the default, to automatically compute the number of gridlines based on other options. An array of sizes as data values, not pixels between adjacent gridlines.
This option is only for numeric axes at this time, but it is analogous to the gridlines. For linear scales, the default is [1, 2, 2.
Any power of 10 times these values is also considered e. For log scales, the default is [1, 2, 5]. The minimum screen space, in pixels, between hAxis major gridlines. The default for major gridlines is 40 for linear scales, and 20 for log scales. If you specify the count and not the minSpacing , the minSpacing is computed from the count.
And conversely, if you specify the minSpacing and not the count , the count is computed from the minSpacing. If you specify both, the minSpacing overrides. All gridline and tick values must be a multiple of this option's value.
Note that, unlike for intervals, powers of 10 times the multiple are not considered. So you can force ticks to be integers by specifying gridlines. Allows formatting for years, months, days, hours, minutes, seconds, and milliseconds. Additional information can be found in Dates and Times.
An object with members to configure the minor gridlines on the horizontal axis, similar to the hAxis. The color of the horizontal minor gridlines inside the chart area. The minorGridlines. The default interval for linear scales is [1, 1. The minimum required space, in pixels, between adjacent minor gridlines, and between minor and major gridlines. The number of minor gridlines now depends entirely on the interval between major gridlines see hAxis. Set to true for yes. Position of the horizontal axis text, relative to the chart area.
Supported values: 'out', 'in', 'none'. The color can be any HTML color string, for example: 'red' or ' 00cc00'. Also see fontName and fontSize. Replaces the automatically generated X-axis ticks with the specified array. Each element of the array should be either a valid tick value such as a number, date, datetime, or timeofday , or an object. If it's an object, it should have a v property for the tick value, and an optional f property containing the literal string to be displayed as the label.
The viewWindow will be automatically expanded to include the min and max ticks unless you specify a viewWindow.
An object that specifies the horizontal axis title text style. The object has this format:. If false, will hide outermost labels rather than allow them to be cropped by the chart container. If true, will allow label cropping.
This option is only supported for a discrete axis. If true, draw the horizontal axis text at an angle, to help fit more text along the axis; if false, draw horizontal axis text upright. Default behavior is to slant text if it cannot all fit when drawn upright. Notice that this option is available only when the hAxis. The default is false for dates and times. The angle of the horizontal axis text, if it's drawn slanted.
Ignored if hAxis. If the angle is positive, the rotation is counter-clockwise, and if negative, it is clockwise. Maximum number of levels of horizontal axis text. If axis text labels become too crowded, the server might shift neighboring labels up or down in order to fit labels closer together. This value specifies the most number of levels to use; the server can use fewer levels, if labels can fit without overlapping. For dates and times, the default is 1. Maximum number of lines allowed for the text labels.
Labels can span multiple lines if they are too long, and the number of lines is, by default, limited by the height of the available space. Minimum horizontal spacing, in pixels, allowed between two adjacent text labels. If the labels are spaced too densely, or they are too long, the spacing can drop below this threshold, and in this case one of the label-unclutter measures will be applied e.
How many horizontal axis labels to show, where 1 means show every label, 2 means show every other label, and so on. Default is to try to show as many labels as possible without overlapping. Moves the max value of the horizontal axis to the specified value; this will be rightward in most charts. Ignored if this is set to a value smaller than the maximum x-value of the data. Moves the min value of the horizontal axis to the specified value; this will be leftward in most charts.
Ignored if this is set to a value greater than the minimum x-value of the data. Specifies how to scale the horizontal axis to render the values within the chart area. The following string values are supported:. For a continuous axis:. For a discrete axis:. The zero-based row index where the cropping window ends. Data points at this index and higher will be cropped out.
In conjunction with vAxis. Ignored when hAxis. The zero-based row index where the cropping window begins. Data points at indices lower than this will be cropped out. An object with members to configure various aspects of the legend. Start, center, and end are relative to the style -- vertical or horizontal -- of the legend.
For example, in a 'right' legend, 'start' and 'end' are at the top and bottom, respectively; for a 'top' legend, 'start' and 'end' would be at the left and right of the area, respectively. The default value depends on the legend's position. For 'bottom' legends, the default is 'center'; other legends default to 'start'. Maximum number of lines in the legend.
Set this to a number greater than one to add lines to your legend. Note: The exact logic used to determine the actual number of lines rendered is still in flux. Candlestick Charts help reveal the market psychology the fear and greed experienced by sellers and buyers through the various indicators, such as shape and colour, but also by the many identifiable patterns that can be found in Candlestick Charts. In total, there are 42 recognised patterns that are divided into simple and complex patterns.
These patterns found in Candlestick Charts are useful for displaying price relationships and can be used for predicting the possible future movement of the market. You can find a list and description of each pattern here. Please bear in mind, that Candlestick Charts don't express the events taking place between the open and close price - only the relationship between the two prices.
So you can't tell how volatile trading was within that single time period. Candlestick Chart - AnyChart. Want your work linked on this list?
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