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Financial OHLC/Candlestick charts

 

An open-high-low-close chart (also known as OHLC chart) is a type of chart typically used to illustrate movements in the price of a financial instrument over time. Each vertical line on the chart shows the price range (the highest and lowest prices) over one unit of time, e.g. one day or one hour. Tick marks project from each side of the line indicating the opening price (e.g. for a daily OHLC chart this would be the starting price for that day) on the left, and the closing price for that time period on the right.

The Japanese Candlestick chart is another way of displaying market price data, with the opening and closing prices defining a rectangle within the range for each time unit. The rectangles have different colors depending on whether prices rose or fell in that period.

Both charts show the exact same data, i.e. the opening, high, low, and closing prices during a particular time frame. Some traders find the candlestick chart easier to read.

OHLC/Candlestick chart may contain single series or multi series. These charts use four values, so you need to pass opening, high, low and closing price values. Also you need to select Label field.

chart_ohlc_set

Chart settings:

ยท Chart Scrolling - this option allows you display a scrollable chart. Don't forget to define the number of points to show on the chart screen.

Example of OHLC chart

Sample data table:

Day

Open

High

Low

Close

03-Mar-10

512.00

515.00

506.10

506.00

04-Mar-10

508.00

513.00

507.00

513.00

05-Mar-10

512.00

515.00

511.00

511.00

In this example we choose Open, High, Low, Close as Data Series 1 fields, Day as Label field.

chart_ohlc

Example of Candlestick chart

In this example we choose Open, High, Low, Close as Data Series 1 fields, Day as Label field.

chart_candlestick

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