candleistick chart pattern, MT4 chart data, Live data feed, Realtime data feed

by Arpita Mahato 

on May 3, 2020

What is a Candlestick?

It’s a type of price chart, that display the High, Low, Open and Closing price of a scrip or Equity or Commodity for a specific time frame or period.

Where Candlestick Originated?

It’s originated from Japanese. Rice merchants and traders to track market prices and daily momentum hundreds of years.

How candlestick Look like?

The Middle wide part of the candlestick is called the “REAL BODY” and IT tells investors whether the closing price was higher or lower than the opening price (black/red if the stock closed lower, white/green if the stock closed higher).

Candlestick Charts
Details About Candlestick
The shadow of candlestick shows the day High and Low and it compare to the open and close. A candlestick’s shape varies based on the relationship between the day’s high, low, opening and closing(OLHC) price.
Candlesticks shows the impact of ‘Investor Sentiment’ on security or commodity prices. Using this technical analysts determine when to enter and exit of a trades.
Long white/green candlesticks indicate there is strong buying pressure; this typically indicates price is bullish. However, they should be looked at in the context of the market structure as opposed to individually. For example, a long white candle is likely to have more significance if it forms at a major price support level. Long black/red candlesticks indicate there is significant selling pressure. This suggests the price is bearish. A common bullish candlestick reversal pattern, referred to as a hammer, forms when price moves substantially lower after the open, then rallies to close near the high. The equivalent bearish candlestick is known as a hanging man. These candlesticks have a similar appearance to a square lollipop, and are often used by traders attempting to pick a top or bottom in a market.

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