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What is a candlestick chart?

Candlestick charts are a technical tool that packs data for multiple time frames into single price bars. This makes them more useful than traditional open, high, low, and close (OHLC) bars or simple lines that connect the dots of closing prices. Candlesticks build patterns that may predict price direction once completed.

What are the different types of candlestick patterns?

There are two basic candlesticks which are illustrated on the image above: Candlestick patterns can be made up of one candle or multiple candlesticks. They can also form reversal or continuation patterns. Here are some of the most popular candlestick charts, explained:

How do I create a candlestick chart?

To create a candlestick chart, you must have a data set that contains open, high, low and close values for each time period you want to display. The hollow or filled portion of the candlestick is called “the body” (also referred to as “the real body”).

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