A trader utilizes a candlestick chart, which is a collection of several candles, to forecast price movement in any market. To put it another way, a candlestick chart is a technical instrument that provides traders with a thorough visual picture of how the price has changed over a specific time frame.
A key price movement tool is the candlestick, which displays specific data about the price, such as the open, close, high, and low for a given time frame. Even so, it’s unclear when it’s side by side with a bar chart.
Characteristic features of Candlestick chart:
Green candles indicate rising prices, so the open is at the bottom of the body, and the close is at the top. Red candles indicate dropping pricing, so the open is at the top of the body, and the close is at the bottom.
The wicks and the body make up each candle. The open and close prices for the candle’s time period are displayed in the candle’s body.
The wicks are the lines that extend from the body’s top and bottom. These represent the asset’s highest and lowest prices during the trading frame.
